Study predicts 40,000 firms will go bust in 2010

The business rescue company says it has found mounting evidence Britain is in the middle of a W-shaped recession and expects between 30,000 and 40,000 business' will fail in 2010 and 2011, fuelled by a lack of available credit. Although the number of companies in a 'seriously distressed state' fell in absolute terms both year-on-year and quarter-on-quarter in Q3, Begbies says the drop in failing companies in the third quarter was in part down to Government support programmes. The group's study into business failures in the three months to end September found 134,000 had experienced...