Insolvency Trends

The official figures from The Insolvency Service, part of the Department for Business, Innovation & Skills, show a steady decline in the number of company liquidations; falling to just over 3,600 (Q1, 2013) from a high of over 5,000 (Q2, 2009), it is still above the number of liquidations that were recorded between 2003 and 2006, when there was an average of just over 3,000 a year.

Whilst the decline is a welcome indication that the economy is continuing to recover, the reality is that businesses can, and do, fail at any time irrespective of economic conditions.

With our track record of turning around a high percentage of the companies that we work with that are in financial difficulty we are well placed to steer our clients through to a positive outcome. We can’t guarantee that every company will be able to carry on trading, can be re-financed or re-launched, but what can guarantee is that the sooner we’re involved the more we will be able to do.

 

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Hart Shaw LLP | Europa Link | Sheffield Business Park | Sheffield S9 1XU | chris@hartshaw.co.uk