Grant Thornton reports rise in administrations

A RISE in company administrations shows that risks persist for UK firms, according to an insolvency expert.

A RISE in company administrations shows that risks persist for UK firms, according to an insolvency expert.

Figures from Grant Thornton said the number of administrations rose by 1.4% to 642 in the final quarter of last year from 633 during the previous three months.

However, the latest figure is 24.4% down in the total of 849 for the fourth quarter of 2009.

The number of companies entering liquidation fell by 0.2% to 3,955 during the fourth quarter from 3.964 for the third quarter. The new figure is also 11.3% below the tally of 4,457 for the last three months of 2009.

A spokesman said the rise in administrations reflected the increasing pressures facing many UK firms as increased taxes and government cutbacks began to take effect.

 

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