Figures by the top ten firm show 4,565 UK businesses failed between April and June 2003, down 6.6% on the same period last year.
In its Industry Watch survey, the firm predicts 5.4% fewer businesses will fail this year. It expects 18,885 companies to go bust in 2003 and 60,000 between now and 2005, 3,000 fewer than previously expected.
Business recovery partner Shay Bannon said: ‘The improvement in trading conditions following the Iraq war is finally being reflected in a reduction in the number of business failures in the UK.’
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