COMPANY failures increased last month, with the North West suffering the worst rates, according to the latest insolvency index by information services company Experian.
It said company failures across the region during July were equal to 0.14% of the region’s total business population, compared with 0.09% in July 2010, the biggest proportion of any UK region. Company failures across the country were equivalent to 0.10% of the UK’s total number of businesses, compared with 0.08% in July last year.
Broken down by category, the figures revealed that larger companies, employing more than 501 staff, fared best of all, with a 13% drop in the rate of failures.
Max Firth, managing director of Experian business information services, welcomed the improvement for the UK’s larger employers, but cautioned: “This doesn’t lessen the need for all organisations, regardless of their size or sector, to be mindful of the risks their customers, suppliers and partners, can expose them to.”
