Midlands administrations fall by a third
Administrations in the fourth quarter of 2010 fell by almost 30 per cent in the Midlands compared to the same period the year before. That’s according to research from the Birmingham office of Baker Tilly Restructuring and Recovery.
The fall is one of the largest regional decreases across England, said the business advisor.
Midlands corporate insolvency numbers were only surpassed by London and the South East with a 37 per cent decrease in administrations.
Baker Tilly restructuring and recovery partner Guy Mander said: “More than two years on from the start of the recession, our statistics show that hard times are still very much in evidence, but the Midlands appears to be bouncing back far quicker than many other regions.
“Nationally, the figures show that we still have a North/South divide in terms of how businesses are faring. Given the pending government spending cuts which are expected to hit the North harder than the South, this two speed recovery is likely to widen later in the year.”
Nationally, the number of administrations fell by an average of 24 per cent.
