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Companies in Insolvency

Number of Businesses Going Under Reaches Five Year High

August 05 2018

The Insolvency Service has released corporate insolvency statistics for April to June 2019 and the figures reveal that the underlying number of UK companies entering liquidation are at levels not seen since 2014. The report shows that in England and Wales

  • 4,321 companies entered insolvency in Q2 of 2019, the highest rate since Q1 2014
  • The liquidation rate is 0.423% of all companies or 1 in 236
  • The construction sector led the way again with more than 3,000 insolvencies in the last 12 months

Samantha White, CEO of My Credit Controllers, said

" This is unwelcome news for business. As insolvency rates rise the risk of being caught with a bad debt go up too. The best way to for a business to reduce the risk of this happening is to collect all its payments from customers quickly without letting sums in arrears build up. We can help your business do exactly this with our outsourced credit control service. "

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How to check if your customer has gone bust

What to do if a customer goes into insolvency owing you money

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