Bankruptcy hit one in 114 businesses in 2009

In 2009, one in every 114 companies entered liquidation, up from around one in every 150 in 2008, an increase of 29%, according to figures from the Insolvency Service. On a quarterly basis, within financial intermediation trading-related, bankruptcies fell to 51 for Q3, the last period for which there is data, down from 54 the previous quarter. Of those, two related to insurance and pension funding, down from five in Q2. In total in 2009, company insolvencies, including compulsory liquidations and creditors' voluntary liquidations (CVL), hit 19,077, up 22.8% on 2008. CVLs were u...