Insolvency

According to figures published by the Insolvency Service, the number of businesses falling victim to insolvency is again on the rise.

Following a dramatic fall in company liquidations during 2010, in the first quarter of 2011 there were 4,121 company liquidations, up 3.7% on the final three months of 2010 and 2.1% higher than the same period a year ago.

In the same period 1,314 businesses went into receivership or administration, or entered into company voluntary arrangements – all higher compared with the previous three months, although down 2.2% cent on the same period a year ago.

This follows an encouraging 2010 in which company liquidations fell by 16% and receiverships, administrations and company voluntary arrangements fell by 23% compared to 2009.

If you require any advice relating to insolvency please contact our commercial team at commercial@blasermills.co.uk