Posted on March - 28 - 2010
Corporate failures fall 15.5pc in North West
The number of north west firms which went bust during February fell 15.5 per cent but remained the highest outside Greater London, figures showed today.
A total of 245 companies failed in the month, down from 290 in February 2009, according to information services company Experian.
It said 0.13 per cent of north west businesses collapsed compared with 0.16 per cent in February 2009.
Nationally, there were 1,834 insolvencies against 2,160 in the same month last year.
Companies involved in the business services, building and construction, leisure and hotels and non-food retailing had the most failures.
Medium-sized companies are seeing the highest insolvency rates. Experian’s Rolf Hickmann said they were too large to be flexible and too small to rely on a strong and established structure
“It is easier for small businesses, with just one or two employees, to easily make adjustments to their operations and pull in the reins when times are difficult,” he said.
“For larger business, there is the security that comes with size and a well-established structure, so insolvency rates among these business types are low.”
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