5,800 More Business Failures by End of Year and Record Personal Insolvencies
There is no silver lining unless you consider a lot of free time over Christmas (without pay) a good thing. Figures released by insolvency specialist Tenon Recovery estimate a further 5,800 businesses will fail by the end of 2009. Worst hit are likely to be leisure and hospitality, property, printing and publishing, construction and business services reports Accountancy Magazine. And adding to the gloom – the Insolvency Service predicts that personal insolvencies are set to reach their highest level since records began, …
There is no silver lining unless you consider a lot of free time over Christmas (without pay) a good thing.
Figures released by insolvency specialist Tenon Recovery estimate a further 5,800 businesses will fail by the end of 2009.
Worst hit are likely to be leisure and hospitality, property, printing and publishing, construction and business services reports Accountancy Magazine.
And adding to the gloom – the Insolvency Service predicts that personal insolvencies are set to reach their highest level since records began, smashing the previous high set in 2006 of 107,288. As many as 130,000 personal insolvencies over 2009, are expected, an increase of 22% on the levels seen in 2008.
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