UK business insolvencies down and ‘stable’
By PRW Staff Posted 20 August 2012
The latest Business Insolvency Index from Experian has revealed a fall in the rate of insolvencies among UK firms in July.
Last month 1,776 companies (0.09% of the business population) failed, compared with 1,962 companies (0.10%) in July 2011.
Improvements were across the board, but the biggest improvements came from the UK’s largest firms, over 501 employees – from 0.15% last July to 0.08% this year – and also smaller firms with 11 to 25 employees – from 0.26% last July to 0.19% this year.
Max Firth, managing director, Experian business information services UK and Ireland, said: “Since March this year, when the insolvency rate peaked at 0.11%, it has remained fairly stable – between 0.08% and 0.09%. The lack of any real increase is clearly welcome and this picture is unlikely to change in the near future.”
The automotive sector saw 0.14% of its population fail during July. It was one of the few sectors to see insolvencies increase when compared with 0.11% in June 2012 and 0.10% in July 2011.
|
Sector
|
Insolvencies
Jul-12
|
% change from
Jul-11
|
% of business population failing
Jul-12
|
% of business population failing
Jul-11
|
|
Extractive Industries
|
0
|
-100.0
|
0.00%
|
0.14%
|
|
Oil
|
0
|
-100.0
|
0.00%
|
0.18%
|
|
Building & Construction
|
289
|
-5.2
|
0.17%
|
0.19%
|
|
Building Materials
|
5
|
0.0
|
0.14%
|
0.14%
|
|
Chemicals Industry
|
2
|
-33.3
|
0.07%
|
0.11%
|
|
Diversified Industrials
|
24
|
-53.8
|
0.11%
|
0.25%
|
|
Electricals
|
13
|
-18.8
|
0.14%
|
0.18%
|
|
Engineering
|
53
|
-24.3
|
0.13%
|
0.18%
|
|
Printing, Paper & Packaging
|
3
|
-40.0
|
0.09%
|
0.15%
|
|
Pharmaceuticals
|
1
|
0.0
|
0.08%
|
0.08%
|
|
Wholesaling
|
65
|
-26.1
|
0.10%
|
0.14%
|
|
Food Retailing
|
21
|
31.3
|
0.12%
|
0.10%
|
|
Non-Food Retailing
|
87
|
-31.0
|
0.10%
|
0.15%
|
|
Servicing / Repair
|
9
|
-10.0
|
0.12%
|
0.13%
|
|
Transport
|
61
|
-7.6
|
0.11%
|
0.13%
|
|
Other Services
|
146
|
44.6
|
0.06%
|
0.05%
|
|
Plastics & Rubber
|
16
|
-38.5
|
0.24%
|
0.39%
|
|
Insurance
|
5
|
-86.1
|
0.04%
|
0.32%
|
|
IT
|
71
|
24.6
|
0.06%
|
0.05%
|
|
Automotive
|
51
|
41.7
|
0.14%
|
0.10%
|
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|
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