The number of limited companies failing in the third quarter of 2003 fell by 12.2 per cent compared with the third quarter of 2002, according to the latest figures released by Experian®, the global business solutions company. Corporate failures are now at their lowest level since the third quarter of 2001, when 4,099 limited companies failed.
4,238 companies failed during the third quarter of 2003, compared with 4,825 in the third quarter of 2002. This brings to 13,340 the total number of companies failing so far in 2003, compared to 14,303 during the first nine months of 2002 – a fall of 6.7 per cent.
The downward trend has now lasted for three consecutive quarters. This is in marked contrast to 2002, when an increase of 11.6 per cent was recorded at this stage in the year.
