Insolvency Statistics – Quarter 3 2014
Quarter 3 Insolvency Statistics Review
The Insolvency Statistics were released this morning by the Insolvency Service and shows that the figures for Quarter 3 2014 showed the lowest liquidation rate since Q4 1984.
The main message to come out of these latest statistics is that the number of company liquidations in England and Wales decreased by -11.7% compared with July – September 2013 figures. The number of individuals who became insolvent also decreased by – 4.6% compared with July-September 2013.
In the 12 months ending Q3 2014, 1 in 186 active companies went into liquidation which is down from 1 in 177 in the 12 months ending Q2 2014. This continues the downward trend in the rates.
Richard Simms, Managing Directors says: “2014 insolvency figures have clearly shown that trading conditions have improved, however the large figures for individual insolvencies still raises alarms. It should be noted that despite healthier trading figures, issues can still occur which can lead to insolvency even in positive trading conditions. My advice to the SME market is to stay on top of your cash flow and make sure you have a good business plan to work alongside to ensure you stay within the boundaries of what your business can realistically achieve.”
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