A total of 4,754 companies failed, up 655 from 2001. And the first nine months of 2002 saw 14,198 failures, an increase of 1,481 compared to 2001, according to figures released today by Experian.
The industry sector which saw the highest number of failures was business services, with 910 – an increase of 13.8% over Q3 last year.
‘The increases have come virtually across the board, covering service and manufacturing industries, and throughout the UK,’ said Phil Cotter, director of Experian’s Business Information Division.
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