THIRTY-THREE per cent fewer companies failed last month, according to the latest insolvency index from information services company Experian.

It revealed that 1,542 firms collapsed, compared with 2,312 in July, 2009.

The North West saw its failure rate fall from 286 companies, in July, 2009, to 163 in the latest survey.

All business segments – apart from the largest companies employing more than 500 staff – saw insolvency rates fall year-on-year, with the biggest improvements being among firms with a headcount of between 101 and 500 employees.

This segment saw 30 insolvencies in July, which was 56% fewer than in 2009.

Max Firth, managing principal of Experian company pH, said: “July’s data indicates that the SME (small and medium-sized enterprises) population is faring much better in terms of insolvencies than it did this time last year.

“However, increasing failures at the top end of the market demonstrates clearly that there is a still a great deal of uncertainty.”

All regions saw year- on-year falls in insolvency rates, with Scotland overtaking the South East as the region with the lowest rate of insolvencies (0.05%).

The North East and Wales saw the biggest improvements, with insolvency rates halving over the past year.

Yorkshire experienced the highest rate of insolvencies (0.13%).