A poll by business information company Experian showed there were 156 insolvencies across the region during January – down by 20.4% on the same month last year.
However, Yorkshire had the highest failure rate in the UK with 0.13% of the region’s businesses becoming insolvent in the first month of the new year.
Nationally, the failure rate fell by a 25% to stand at 1,418 last month. With just 0.07% of firms becoming insolvent, the UK failure rate was at its lowest point since June, 2007.
Business services was the worst-hit sector with 335 businesses going bust in January.