Insolvencies rise sharply

July 2005
Credit Control;2005, Vol. 26 Issue 7, p36
Trade Publication
The article reports that there has been a sharp increase in the number of limited businesses going bankrupt in Great Britain, with corporate failure increasing by 21%. According to the latest quarterly insolvency report from Experian Corp., in all, 4,787 companies went out of business during the third quarter of this year. So far this year, 13,599 businesses, 1,423 more than during the same period in last year, have failed. Richard Lloyd, Managing Director of Experian's Business Information Division said that by making the necessary checks on their customers, prospects and suppliers, businesses can be forewarned about whether any of them are facing cash flow difficulties and possible failure.


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