PracticeConsultingDTI unveils new figures showing sharp rise in personal insolvencies

DTI unveils new figures showing sharp rise in personal insolvencies

The DTI said today there were 3,450 company insolvencies in the fourth quarter of 1999, up 1.6% on the same period last year, and that personal insolvencies had rocketed by over 11%.

The figure for company insolvencies is 0.5% lower than the previous quarter.

The DTI added that 1.2% of active companies became insolvent in the twelve months ended Q4 1999, the same as in the previous quarter and in the corresponding quarter in 1998.

It added that there were 7,351 individual insolvencies in England and Wales in the fourth quarter of 1999 on a seasonally adjusted basis.

This was a decrease of 0.6% on the previous quarter and an increase of 11.5% on the same period a year ago.

Byers publishes Insolvency Bill but drops clause requiring creditors to give notice before appointing receivers

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