0370 270 6000

Economy remains fragile as insolvencies rise: Q2 2011

8 August 2011

The Insolvency Service has released statistics for insolvencies in the second quarter of 2011 which demonstrated the continued fragility of the UK economy. There were 4,233 companies that entered into insolvent liquidation, which was an increase of 2.7% on the previous quarter and an increase of 4.4% on the same period a year ago. Curiously, although liquidations have risen, other forms of corporate insolvency such as administration have decreased by 6% on the same period a year ago. This may be the result of recent cases which make administration unattractive or creditors becoming increasing aggressive in the use of winding up petitions.

There were 30,513 individual insolvencies in the second quarter of 2011, a decrease of 12.2% on the same period a year ago.

Related opinions

Building Safety Bill amendments

In March the government proposed a number of changes to the Building Safety Bill. The new amendments propose additional protection for leaseholders to prevent them from being charged for cladding work if they own up to three properties.

View blog

Are whistleblowers entitled to keep their employer’s confidential documents?

In Nissan v Passi, the High Court recently considered the issue of an employee retaining confidential documents belonging to his former employer in the context of the employer’s application for an injunction seeking the return of such documents from the employee.

View blog

ESG for Beginners

As you probably know by now, the acronym 'ESG' stands for environmental, social and governance. Although the investment community initially coined the term, it has grown into a larger concept that can be applied more broadly to any business or practice.

View blog

Insolvency applicants: getting the basics right

A number of interesting developments have emerged from what was quite a run-of-the-mill insolvency application brought by a litigation funder assignee.

View blog

Mailing list sign up

Select which mailings you would like to receive from us.

Sign up