Q2 of 2010 sees 4,800 liquidations

09/08/2010

In the period between April and June, there were a total of 4,080 compulsory liquidations and creditors' voluntary liquidations in England and Wales.

Figures published by the Insolvency Service have shown that there has been a seasonally-adjusted increase of 0.5 per cent on the first quarter of 2010.

However, the rate of insolvencies has actually fallen by 19.1 per cent from the same period in 2009.

During this time, there were 1,169 compulsory liquidations, which fell by 21 per cent on the second quarter of last year and 9.9 per cent on the first three months of the year.

In the 12 months ending in the second quarter, approximately 0.8 per cent of companies went into liquidation – down from three months earlier, where one in 120 firms went into liquidation.

Earlier this month, the Federation of Small Businesses reported that business confidence is still fragile for many small and medium-sized enterprises.

Posted by Emma Noble