Business insolvency rate down in July

A total of 1,542 British firms failed in July, an insolvency rate of 0.08% of the business population, This compared to 2,312 in July 2009 with a 0.12% rate. Meanwhile, Experian's Insolvency Index also shows the financial strength score of UK businesses in July was 80.93. This was up on the 80.61 recorded in July 2009 but down on the 12 month high of 81.37, seen in December 2009. Max Firth, managing principal of pH, an Experian company, says: "July's data indicates the SME population is faring much better in terms of insolvencies than it did this time last year, however, increasing fa...