MORE companies went into insolvency in the first three months of 2016 at 3,694 than they did in the final quarter of 2015 but still some 3.6% below the same period in 2015, the latest figures from the Insolvency Service reveal.
The 5.4% rise marked the first uptick since Q1 2014, primarily caused by a big surge in compulsory winding-up orders in Q1 2016, at 804 companies, a dramatic 36% increase on the last quarter but still 11.5% lower than Q1 2015.
Glyn Mummery, partner at FRP Advisory, the business advisory firm, said: The first quarter of 2016 has seen a 36% surge quarter-on-quarter in numbers of compulsory liquidations to 804 but this is more an indication of another mini cull of so-called zombie businesses, many in construction,…
Read the full article at: http://www.accountancyage.com/2016/04/29/company-insolvencies-rise-but-wider-trend-is-down/