More Midlands businesses collapsing - report
More companies are going bust in the Midlands, according to a new survey.
There was a 25 per cent year on year increase in the number of corporate administrations across both West and East Midlands in the third quarter of 2011, according to Baker Tilly which has carried out research using administration appointment advertisements in The London Gazette.
It said there were 96 appointments during the three months - up from the 77 during the equivalent period in 2010.
Nationally, there were 596 administration appointments in England in during the quarter, exactly the same number as there were during the same three months in 2010.
The Midlands third quarter figures for 2011 also reveal a 21.5 per cent increase on the 79 appointments made in the previous quarter.
Guy Mander, partner at Baker Tilly Restructuring and Recovery, said: "The insolvency figures demonstrate that businesses continue to have little room for manoeuvre either with growth or profit.
"Therefore, for companies already struggling with cash issues, it is even more vital to tackle any potential issues in advance. Traditional credit lending continues to be less available, and HMRC is demonstrating signs of being more aggressive in its actions with defaulting creditors."
