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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.

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