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BandWagon

Uk Company Failure Hits Historic High

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This was quoted in today's Metro...

Richard Lloyd, Managing Director of Experian’s Business Information division, commented: “This increase of 15.3 per cent is alarming. In 2004, the UK recorded the lowest number of corporate failures since 1998, but insolvency rates have now been rising at an increasing rate since the last quarter of 2004.

...

“Following the sharp rise in corporate insolvencies in 2005, we predicted that the increase would continue into this year, and we see no reason for the insolvency rate to slow down this year. Rising insolvencies can have a knock-on effect of bringing down more businesses with them. As more companies go under, their suppliers are left with bad debts, which will, in some cases, tip the supplier over the edge, resulting in even more job losses.”

I'm quite surprised building & construction hasn't fallen harder.

We can expect unemployment to continue rising, it becomes a vicious circle.

It won't be long before the banks find out the hard way (again) that it's not very clever to lend 6 times someone's salary to buy a house. The credit crunch can't be far off now.

http://experian.global-pressoffice.com/documents/showdoc.cfm

Edited by BandWagon

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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