Company insolvency numbers static in eastern England

Posted 21/04/2010

The number of company insolvencies in eastern England remains unchanged, despite the end of the recession.

Figures compiled by information services company Experian show there were 195 company insolvencies in the region during March 2010 – exactly the same number as in March 2009.

The figure also represents a sharp rise from February 2010, when there were 144 business insolvencies in eastern England.

Across the country as a whole, the number of company failures climbed from 1,834 in February 2010 to 2,160 in March 2010. However, that represents a substantial fall from March 2009’s level of 2,512.

Businesses employing between 26 and 50 staff were found to be at greatest risk of insolvency, with 0.34 per cent of them failing during the month.

The report also revealed the business services sector had the highest number of company insolvencies with 488, with the construction industry second worst affected with 377 firms failing.