News - Midlands
Insolvent deals surge in the Midlands
Acquisitions of insolvent businesses in the Midlands almost trebled in 2009, according to research into mergers and acquisitions by global information services company Experian Corpfin on behalf of insolvency trade body R3. The figures show that 81 companies were acquired out of administration or other formal insolvency procedures in the Midlands in 2009, compared with 29 in 2008. Acquisitions of distressed businesses accounted for 18 per cent of all corporate finance deals, compared with just 3 per cent in 2008.