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    UK at risk of mass business failure

    UK at risk of mass business failure

    Indicators point towards a rise in business failures, warns Begbies

    Author Writer Date published January 29, 2007 Categories

    Begbies Traynor
    has warned that business insolvencies could be set to leap after winding-up
    petitions rose sharply during the winter.

    The firm’s figures show that winding up petitions, the last step before
    insolvency, increased dramatically in the last quarter of 2006 compared to the
    year before.

    ‘After a long period of stable low interest rates and an expansion in the
    availability of external finance, the pressures on struggling UK businesses now
    seem to be mounting,’ said Ric Traynor, executive chairman of Begbies.

    ‘There is an inexorable slide towards insolvency if the issues faced by those
    businesses are not addressed beyond simply borrowing more money and hoping for
    better times.’

    Further reading:

    Insider Business Club: business recovery
    & turnaround

    Insolvency specialists anxious as corporate failures
    dwindle

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