The amount of administrations carried out for limited companies is on the rise according to the London Gazette this week with an increase of 7.8 per cent. Cases in London remained the same as last quarter and the North East has seen the largest change in percentage with a 46.2 per cent increase. The Midlands saw a rise of 24.7 per cent.
Statistics from the London Gazette suggest the construction industry were the hit the hardest out of all the sectors. The retail industry and the services industry followed not far behind.
Other sectors included during the last quarter are 50 property companies, 67 from manufacturing, 60 from leisure and hospitality, 26 from healthcare and 55 from the Telecoms, media and technology industry.
Company Administration can be a viable solution depending on the insolvency situation involved. If you would like to know more about administration or other insolvency solutions available contact us on 08000 747 757.