UK Corporate Insolvencies Rise In 2011 - Experian
Corporate insolvencies rose in the U.K. in 2011, information services firm Experian PLC (EXP.LN) said Wednesday, driven by an increase in business failures in sectors including construction, property and business services
Experian said there were 21,070 corporate insolvencies in the U.K. in 2011, up from 19,818 in 2010. The proportion of the total business population going bust--the insolvency rate--edged up to 1.1% from 1.03%, Experian said.
The insolvency rate declined in Yorkshire in northern England but rose in all other regions during 2011, Experian said. Wales experienced the largest rise in insolvencies, with 654 firms, or 1.18% of businesses, going bust.
Max Firth, U.K. managing director of Experian's business information services division, said the U.K. insolvency rate was higher in 2008 and 2009 and the data shows U.K. firms were pretty resilient in 2011 given the challenging economic backdrop. ...Read more
Source: Dow Jones Newswires | Fox Business | www.foxbusiness.com
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