Tel: +44 (0) 2079890750

Global Recruitment Experts

Access to millions of CV's and
thousands of international jobs

UK insolvencies Drop Sharply


Corporate insolvencies are falling in Britain as the economy recovers although the planned public sector cuts could still have severe knock-on effects on thousands of businesses, accountancy firm Pricewater house Coopers warns in a report published today.

A total of 3,313 companies fell into insolvency in the third quarter of the year, an 18% decline from the previous quarter, and 29% drop over the same period last year, PwC said.

The coalition’s planned budget cuts are likely to mostly affect service and construction companies. Construction firms accounted for 16% of all third-quarter insolvencies, more than any other sector.

 

Author: Chris Slay

Skills Provision will allow our articles/quotes to be reproduced on other formats as long as full accreditation is given.