Corporate Recovery and Insolvency - North West Sees Decrease in Insolvencies


In this blog article, Corporate Recovery and Insolvency Associate, Paul Palmer, analyses the latest company insolvencies report published by the Manchester Evening News.

A recent report published by the Manchester Evening News shows that insolvencies in the North West region have fallen 7.7% compared to January 2011 and that the North West was one of only 3 regions that showed a year-on-year decrease, along with Wales and Greater London.

Yorkshire and the North East regions showed increases of 43.2% and 4.8% respectively.
Palmer_Paul


January tends to be a good month (for reduced numbers of reported insolvencies) as many businesses benefit from the Christmas trade. Reportedly, 168 companies failed in January 2012 which represents less than 0.1% of the regions business population.

Is this a sign of recovery or is it the calm before the storm? The answer to this will depend upon who you speak to. Experian reported "that this was a positive move and we could entertain some cautious optimism". For those involved in the Insolvency profession, we believe this is the calm before the storm with the economy shrinking further before a recovery can take hold.

If you would like to speak to Corporate Recovery and Insolvency Associate, Paul Palmer, about your own business situation then call: 0161 817 6100 or email: paul.palmer@mitchellcharlesworth.co.uk

You may also wish to download this free guide, written by CR&I Partner, Jeremy Oddie - A Business Survival Guide 2012.

More guides and information are available from our North West based Corporate Recovery and Insolvency Department here.

Post a comment

Registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales and authorised and regulated by the Financial Conduct Authority for investment business