Statistics show that there has been an 18.7% year on year fall for compulsory liquidations from the second quarter of 2012 compared with the same period last year.
The figures are supported with the coming of the Olympics that has had a positive impact on many UK businesses recently.
Against these figures there was also a rise in company voluntary arrangements (CVA's) within the same period which is a positive sign for UK limited companies as this is a solution to help businesses trade on.
There was a slight increase in creditors' voluntary liquidations within this period of around 0.4% against the previous year.
A representative from R3 the Association of Business Recovery Professionals has said that although the retail sector appears to be having its own challenges at the moment, corporate insolvency on the whole is actually down so its a positive outlook for the time-being.
Showing posts with label company voluntary arrangements. Show all posts
Showing posts with label company voluntary arrangements. Show all posts
Wednesday, 8 August 2012
Wednesday, 4 July 2012
Retail Sector Insolvencies on the Rise
The number of retail sector failures has risen by more than a third recently.
Around 670 retailers went bust during the first quarter of 201 which is a 38% rise against the 486 that became insolvent during the last quarter of 2011.
This is a 3% increase on the number if businesses that failed during the same period last year, confirming that this year is in fact worse for insolvency figures.
The retail sector has been struggling to get back on its feet since the first recession that began in 2008. Since this period the UK has slipped back into a double-dip-recession and has forced many business to consider voluntary insolvency solutions such as liquidation or company voluntary arrangements.
Many are blaming the double-dip-recession for pulling the retail sector back down into insolvency.
Jameson Smith & Co help UK directors to get out of tricky insolvency situations. We speak with directors every day so get in touch if you need help with your company.
You can get in touch on 08000 746 757 or use our live chat facility at the top of the page.
Around 670 retailers went bust during the first quarter of 201 which is a 38% rise against the 486 that became insolvent during the last quarter of 2011.
This is a 3% increase on the number if businesses that failed during the same period last year, confirming that this year is in fact worse for insolvency figures.
The retail sector has been struggling to get back on its feet since the first recession that began in 2008. Since this period the UK has slipped back into a double-dip-recession and has forced many business to consider voluntary insolvency solutions such as liquidation or company voluntary arrangements.
Many are blaming the double-dip-recession for pulling the retail sector back down into insolvency.
Jameson Smith & Co help UK directors to get out of tricky insolvency situations. We speak with directors every day so get in touch if you need help with your company.
You can get in touch on 08000 746 757 or use our live chat facility at the top of the page.
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