The number of limited businesses failing in the first quarter of 2004 fell by eight per cent compared with the first quarter of 2003, according to the latest figures released by Experian®, the global information solutions company. Corporate failures are now at there lowest level since the third quarter of 2001, when 4,099 limited companies failed.
In total, 4,063 companies failed during the first quarter of 2004, compared with 4,417 in the first quarter of 2003. In contrast to the declining insolvency landscape, administration orders have increased by 82 per cent over the same period in 2003 and by 94 per cent over 2002. In the first quarter of 2002, there were 168 administration orders; this increased to 179 in 2003 and 326 in 2004.
