An estimated 3,633 companies entered insolvency in Q3 2016, which was 2.2% higher than Q2 2016 and 1.1% up on the same period in 2015.
The worst affected sector was construction with 2,450 company collapses, although this was slightly better than 2015 equivalent figures. Next worst hit was the wholesale trade and vehicle repairs sector, followed by administrative and support services.
The figures to a degree mirror overall growth rates across the economy. The services sector provided all the expansion for GDP, up 0.8%, however construction, manufacturing and agriculture shrank during the third quarter. Construction was the worst performer, down nearly 0.1%.
The rate of business collapses is still substantially lower than the recession follo…
Read the full article at: https://www.cchdaily.co.uk/company-insolvencies-england-22-q3