The number of British companies going bust nearly doubled in the past year
and is set to rise even more in 2009, according to KPMG.
Figures compiled by the big four accountant showed a total of 3,225
insolvency appointments in 2008 (to 23 December), up from 2,230 in 2007.
KPMG said the outlook was worse for 2009, and that corporate insolvencies
could more than double again, to 5000.
Many companies are hurriedly restructuring their balance sheets, operations
and labour force but restructuring partner Jim Tucker says its inevitable that
some will run out of cash in the process.
Mark McMullen joins the private client services team from Smith & Williamson
Three new partners and seven business restructuring advisers have been appointed to the new Preston office
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks