Administrations see double digit decline
According to figures from Baker Tilly corporate insolvencies has seen a 24% decline in the last quarter of 2010 compared to the same period in 2009.
ADMINISTRATIONS FELL by more than a fifth in the last quarter of the year compared to the same period in 2009, according to research by Baker Tilly.
Corporate insolvencies fell 24% across England in Q4 2010 compared to Q4 2009. However, London and the South East saw the most dramatic decline with 37% and the rest of England saw administrations drop by 14%.
Matt Haw, director at Baker Tilly restructuring and recovery, said: “More than two years on from the start of the recession, which initially hit the South hardest, our statistics for the South West show hard times are still very much in evidence.
“However, London and the South East are proving to be bouncing back far quicker than the rest with a 37% decrease in insolvency numbers year on year, compared with only a 14% decrease overall elsewhere in the country.”