Pace of business failures slows
Published: 13 July, 2010
LONDON: The number of business failures eased but still exceeds pre-recession levels of early 2008 according to the Equifax Business Failures Report.
The construction sector saw a 17.3% drop in the number of failures year-on-year and a 7.5% reduction compared to the first quarter.
The North East was the best performing region quarter-on-quarter.
Nic Beishon, head of Equifax Commercial Information Solutions said: "Our latest Business Failures Report appears to reflect the very close control businesses have been putting on cashflow and costs."
"There is much speculation about whether we are heading for a double-dip recession, but our Business Failures Report certainly seems to indicate that all the right actions are being taken by business to survive continuing difficult trading conditions."