Business failures on the rise
Business failures have risen sharply in the first quarter of this year compared to last year, according to the latest figures from Dun & Bradstreet.
D&B’s quarterly survey of bankruptcies and liquidations revealed that business failures had grown 15.4% from 9,360 to 10,803, with smaller companies affected more severely than larger ones. There was a 20.5% increase of bankruptcies of small companies compared with a 9.6% rise for larger businesses.
London was the only area of the country to record a drop in business failures, while Wales experienced the largest increase of 44%.
Philip Mellor, senior analyst at D&B, said: ‘Part of the increase is due to the low base with which these figures have been compared. Last year the first quarter figures were the lowest they had been for nearly 10 years. So we will have to wait until the next quarter to be quite sure that the business failure trend is running significantly upwards.?