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.?
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
Smith & Williamson has been appointed administrators of charity 4Children