There were 4,118 company insolvencies in England and Wales in the second quarter of 2002 – an increase of 7.6% on the previous quarter and a rise of 9.9% on the same period a year ago.
It means that one out of every hundred active companies became insolvent in the 12 months to June 2002, according to the Official Insolvency Statistics, widely considered to be the most comprehensive record of insolvencies and bankruptcies.
The number of individual insolvencies is also rising.
There were 7,903 individual insolvencies in England and Wales in the second quarter of 2002 – a rise of 13.1% on the previous quarter and an increase of 3.9% on the same period a year ago.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies