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Business failure rate is on the up
29th January 2009, Page 47
29th January 2009
Page 47
Page 47, 29th January 2009
— Business failure rate is on the up
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THE EQUIFAX business failures report for October/November 2008 showed more companies going bust in all sectors and all regions.
In addition to those sectors already hit hard by recession, such as construction, the communications and transport sector showed a 47.2% increase in failures year on year as a result of losses in manufacturing and retail.
The East Midlands was hit particularly hard, and even areas that have proved more resilient in the past — such as London and the SouthEast — are showing a steady rise in failures.