UK corporate insolvencies will fall in the third quarter of the year,
according to credit reference agency Graydon UK.
The drop in company failures in Q3 is likely to be 5.7% compared to the
second quarter of this year and 6% lower than the third quarter of 2009.
Martin Williams, MD at Graydon UK, said HMRC’s Time to Pay Scheme, which
allows businesses to defer tax payments, has helped reduce the number of
Williams predicts company failures will increase in early 2011 as the impact
of public spending costs and rise in VAT take effect.
Service releases its official statistics on company failures for the third
quarter on 5 November.
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