You wouldn’t expect a sober establishment like PwC to get over excited at this point…and it isn’t. Although the worst seems to be behind us – the number of companies going up in smoke is beginning to fall – the cautious chaps at PDubs would like us to remember that the figures are still very high.

Mike Jervis, business recovery partner at PwC told Accountancy Age:

“Historically, we have also witnessed a spike in the number of companies entering insolvency on the way out of the recession showing that now is not the time for companies to breathe easy – we are not at the end of the tunnel yet.”

Whether or not you count 0.1% as actually coming out of recession, it’s pretty clear that there’s a long way to go before we can all exhale.