Road transport hits the top spot in business failures
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• Business failures in road transport rocketed by 350% last month as trading conditions continued to take their toll. Nine companies were put into receivership or made the subject of an administrative order in February, compared to just two in January and two in February last year. The latest road transport failures bring the number in the last 12 months to 54. As a whole, the transport and communication sector—in which accountant Deloitte & Touche also includes air transport, travel agents, shipping and other transport and communications—showed a 186% rise in appointments over January. Last year 47 transport companies failed. Construction, with a 17% increase, hotels and catering (38%) and retailing (19%), were next hardest hit. The results contrast with the levels of the failures experienced elsewhere throughout British industry. As a whole appointments in February rose to 181-11% above January's figures, bringing levels comparable to the same time last year and way below the 561 height in February 1991.