No Christmas cheer for ailing business
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Manufacturing News, Source : TheManufacturer.com
Published : 30 Dec 2002 18:38
Business failures in Britain are on the increase, according to a survey released today.
Figures from business information company D&B (previously Dun & Bradstreet) showed that business failures rose by 7.2 per cent to 43,458 in 2002, after falling for the last two years. This is the highest number of business failures since 1994, with 18,628 company liquidations and 24,830 smaller business bankruptcies.
'The rise in the number of business failures is the result of the economic downturn,' said D&B. It also warned that it expected 45,000 businesses to go under next year.
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