News Article

Yorkshire Insolvencies Fall

YORKSHIRE saw the biggest fall in business insolvencies when compared to other UK regions last month, according to new research.

The latest Business Insolvency Index from Experian found that there was a 9.3% drop in insolvencies in May compared to the same period last year.

The only other area to experience a fall was the South East. The North East was the biggest riser with a 61.1% change.

The research found that across England, Scotland and Wales 1,841 firms failed in May, the same rate as the previous year.

However, this figure was an increase from April and was driven primarily by firms employing up to 25 staff.

Max Firth, UK managing director for Experian’s Business Information Services division, said: “By the time a firm grows to six to 10 employees, the flexibility it benefited from as a micro business begins to disappear."

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