The number of companies falling into administration has dropped in recent
months, according to research by Deloitte, but the firm warned that further
rises may be imminent.
The total number of companies entering administration in 2009 was 2% lower
than the previous year at 3,188, but fourth quarter figures showed a dramatic
41% year-on-year drop from 1008 to 599 and an 18% fall from the previous
It wasn’t all good news though, as the hospitality and leisure sector saw
administrations jump 9% and further rises across the board are anticipated.
“We would not expect the rate at which administrations have declined in the
past two quarters to continue, if anything, we would expect a modest increase in
the first quarter of this year,” said Lee Manning, re-organisation services
partner at Deloitte.
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