According to Department of Trade and Industry figures revealed last Friday, 8,103 individuals became insolvent between January and March of this year. This compares to an 8.2% drop in corporate failings during the same period as 3,684 companies went into formal administration procedures.
Insolvency experts say the drop in business failures reflects a higher number of companies moving towards a more consensual restructuring of debt and a more benign economic regime.
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