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Uk Company Failure Hits Historic High

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Looks like a few more jobs will going in the future,

oh dear :(

The UK is experiencing its fastest growth in the number of limited businesses failing, according to the latest figures from Experian, the global information solutions company. In the first three months of 2006, corporate failures increased by 15.3 per cent to 4,818 the highest quarterly increase recorded since 1999.

There has also been an increase, for the first time since Q1 2002, in the number of companies going into compulsory liquidation. Compulsory liquidation is when the court makes an order for the company to be wound up (a 'winding-up order') on the petition of an appropriate person - the director(s) of the company or a creditor. Administration orders are also on the increase - up 55 per cent on the same period last year. Companies going into administration during 2005 include Golden Wonder Ltd and The Sock Shop.

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. These latest insolvency figures really reflect current market conditions and illustrate some of the threats that businesses, especially in certain sectors, are experiencing.

“No region has bucked this trend. In fact, every UK region has seen an increase in the number of businesses failing, with all the fallout, including lost jobs, that entails.”

Follow the link here: http://press.experian.com/

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Guest The_Oldie

One of my customers has just gone bust leaving me with a, thankfully small, bad debt :(. The company had been in business for over forty years!

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Take a look at the table,

see the number of property business that have failed

71 in Q1 '05 up 84.5% to 131 in Q1 '06

Reading this thread whilst talking to a customer who owes me a goodly sum and is talking of going bust.I think it is around £7k minimum!

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i really despair with this situation - yet the hpc looks miles off - where is the money coming from, surely not just home loans <_<

Easy to get credit is my take on this.I cannot see any other way this is continuing.I guess it`s all about debt servicing.As long as you keep the re-payments coming it`s O.K.There have to be a bunch of folks who live on a diet of baked beans to keep that SUV on the road!It`s gonna end in tears!

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  • 335 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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