As the unemployment tally hits 2.4m, Accountancy Magazine reports that nearly 55 businesses are also disappearing every day.

Corporate insolvencies are affecting 55 companies a day, as figures show a rise by nearly 40% in the second quarter of 2009.

The second three months of the year have seen 5,055 corporate insolvencies across England and Wales, up 2.9% on the previous three months, and nearly 40% from the same time last year.

And despite all the noise about ‘bottoming out’, consider this warning from one insolcvency partner:

the autumn could yet result in more misery for those companies which, as a result of continuing poor performance, are unable to arrest and remedy a breach in their lender covenants

Ski season anyone?