Business failures are set to rise next year, according to BDO Stoy Hayward.
A survey by the firm suggests that 2006 will see 18,052 businesses go under,
a 4 per cent increase on the expected 17,303 failures this year.
The survey suggests that 2006 will be the peak of business failures in this
business cycle. Shay Bannon, business restructuring partner at BDO, said: ‘T
he rate [of failures] is low compared with previous cycles.’
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