22 November 2010 Experian today publishes its monthly insolvency index for the country, with some good news for Yorkshire and the North East. The two regions saw the biggest improvement in the number of firms going bust compared with October last year.
Both regions had the highest insolvency rates in October 2009 but have seen business collapses decline from 0.14% to 0.11% in the North East and from 0.15% to 0.07% in Yorkshire. Heartening news, indeed.
It is also good news for Scotland, which regained its position as the region with the lowest rate of insolvencies at 0.05%.
The property industry is also now looking a little more robust.
Insolvencies in the construction industry – including building materials businesses – declined in October compared to the same period last year. Property firms also saw insolvencies drop from 0.1% to 0.05%.
However, it is medium-sized firms of 50-100 employees which seem to remain the most vulnerable, with involvencies on the increase from 0.19% to 0.24%.
So, not quite smiles all round, but something to be quietly cheerful about.
Stacey Meadwell contributes to www.estatesgazette.com/blogs
stacey.meadwell@estatesgazette.com
