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Uk Company Administrations Soar 60pc

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http://www.telegraph.co.uk/money/main.jhtm...solvency101.xml

The number of companies that have been place in administration in the past three month has jumped 60pc compared with last year, official insolvency statistics reveal.

Business recovery experts said the dramatic rise was a sign that the economic slowdown was taking hold.

They warned of a similar jump company liquidations by the end of the year when the administrations were wound down.

The Insolvency Service said that between April and June there were 3,560 liquidations, up 12pc compared with the first three months of the year and a 15pc increase on the second quarter last year.

Receiverships, often initiated by the high street banks and involving businesses that are at least three years old, have also more than doubled.

Nick Wood, recovery and reorganisation partner with accountants Grant Thornton, said banks and major accountancy firms were gearing up for a significant flow of work in the autumn.

"The negative sentiment expressed in a huge range of economic indicators is now feeding through to the real economy, with businesses that a year ago had been able to paper over the cracks now being fully exposed. Unfortunately, this feels like just the beginning," he said.

Geoff Carton-Kelly, head of restructuring and recovery at Baker Tilly, the accountancy firm, said: We expect about 15,000 company insolvencies in 2008, 20pc higher than in 2007, at a rate of over 280 companies per week.

Yesterday we had firms running out of cash now they are going into administration!! I would if the two are linked in some way????

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There is going to be no recession in the UK.

we have strong fundamentals, low unemployment and low interest rates.

there is no sub prime in the UK

GB wont let house prices get out of control.

He has also eliminated boom and bust.

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There is going to be no recession in the UK.

we have strong fundamentals, low unemployment and low interest rates.

there is no sub prime in the UK

GB wont let house prices get out of control.

He has also eliminated boom and bust.

Sorry I've not very good at being brain washed, I will try harder to follow the party line in future. :P

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  • 395 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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