Debt problems boost insolvencies

December 2002
Accountancy;Dec2002, Vol. 130 Issue 1312, p28
Trade Publication
It is reported that third quarter insolvency figures published by the government suggested businesses might be at risk from rising consumer debt and individual bankruptcies as of the year 2002. Corporate insolvencies during third quarter of 2002 rose 3,873, up 5.2% on the same period in 2001, although this was a decrease of 6.1% on the previous quarter as of the year 2002. There were 7,831 individual insolvencies in England and Wales, a rise of 2.0% on the previous quarter and up 6.4% on the same period last year.


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