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Large firm insolvencies fall 02/12/2013 The latest Business Insolvency Index from Experian reveals that the number of the UK’s largest companies becoming insolvent halved in October, compared to last year.

Large firm insolvencies fall

The latest Business Insolvency Index from information services company Experian reveals that the number of the UK’s largest companies becoming insolvent halved in October, compared to last year.

The insolvency rate for companies with 500 plus employees went from 0.20% to 0.08%, bringing it back in line with the UK average after several increases over the summer months.

The year-on-year business insolvency rate for the UK remained stable in October 2013 at 0.08%, making it the fourteenth month since insolvency rates last rose.

October also saw a positive outcome for the Building & Construction industry, with a year-on-year fall in insolvency rates from 0.15% in 2012 to 0.14% in 2013. This means that insolvencies within Building & Construction have fallen year-on-year for 12 consecutive months.

“The positive trends from October are coming from some of the UK’s largest sectors and biggest firms, which is a good indicator of things to come,” said Max Firth, Managing Director, Experian Business Information Services, UK&I. “We are seeing a greater level of confidence among businesses than this time last year which in turn may lead to expansion and growth. Although this can bring increased risk exposure, getting an in-depth picture of the financial health of potential clients will help business make the best decisions and identify the best opportunities.”
 

 

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