Data from the Insolvency Service indicates a 2.2% increase in business insolvencies in the third quarter, following a decline in the previous quarter. An estimated 3,633 firms entered insolvency in the third quarter of 2016. More than 600 businesses were subject to compulsory liquidation over the period, up 3.5% on the previous quarter. There were also an estimated 75 company voluntary arrangements and five administrative receiverships in the quarter.
The sector which was worst hit was construction, with 2,450 company failures. The next worst affected was the wholesale trade and vehicle repairs sector, followed by administrative and support services.
However, despite this increase in company insolvencies, the figures suggest a relati…
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