BusinessBusiness RecoveryInsolvencies to rise, says R3

Insolvencies to rise, says R3

Roger Oldfield, president of R3, the professional body for insolvency practitioners has said that he expects the number of companies going to the wall to rise this year.

Speaking after Dun & Bradstreet figures showed a slight fall in the number of insolvencies last year, Oldfield told this morning’s BBC Breakfast News he had ‘no doubt’ that this year’s figure would be higher.

He said the full impact of foot and mouth on rural businesses had not yet been felt as Customs & Excise and the Inland Revenue were reluctant to press companies into administration as part of government attempts to support companies affected by the spread of the disease.

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