North East is the region with highest rate of insolvency
The North East remains the region with the highest rate of corporate insolvencies which is very slightly higher nationwide this year.
Across the entire UK business population, the rate of insolvencies increased with 0.09% of British businesses failing in September, up from 0.08% in September last year, according to business data group Experian.
The insolvency rate is calculated by comparing the number of businesses that failed with the total business population in Great Britain.
And the small and medium-sized business sector performed worst with companies with more than 500 staff seeing a quarter fewer insolvencies over the last year.
Micro businesses employing just one or two people experienced the biggest annual rise in insolvencies during September, increasing by 25% to 258. This represented 0.06% of the UK’s total business population.
Although the North East saw the biggest drop in its failure rate from 0.15% to 0.13%, it remained the region with the highest rate of insolvencies.....read more.
Source: www.nebusiness.co.uk
Clinton Cards to go into Administration
