The North East is the only part of England and Wales to have seen a rise in the rate of businesses based in the region becoming insolvent last year.
According to new Insolvency Service figures, the insolvency rate in the region increased from 114 to 123 insolvencies per 10,000 enterprises during 2017, and is substantially ahead of the overall insolvency rate for England and Wales, which was 81 per 10,000 companies.
Only the Yorkshire & Humber region, with 129 insolvencies per 10,000 enterprises, has a higher rate of corporate insolvency than the North East, although that figure fell from 141 the previous year.
Andrew Haslam, chair of North East insolvency and restructuring trade body R3, is now advising regional business owners to ensu…
Read the full article at: https://www.businessupnorth.co.uk/north-east-experiences-unique-year-on-year-rise-in-corporate-insolvency-rate/
