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Changing rides
5th February 2004, Page 20
5th February 2004
Page 20
Page 20, 5th February 2004
— Changing rides
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Expenan reports that in marked contrast to 2002, the downward trend in corporate failures accelerated through 2003, when an increase of 9.8% was recorded. Phil Cotter, MD of Experian's business information division, explains; "The introduction of new insolvency rules during 2003 to help make it easier for UK businesses to get out of financial trouble has been reflected in the overall decline in the number of businesses going to the wall in 2003, while the number of companies going into administration increased by a record 74.5% in the final quarter of the year."