The number of businesses failed in the fourth quarter of 2002 increased by 4.6 per cent compared with the fourth quarter of 2001, bringing the total increase for 2002 to 9.8 per cent. According to the latest figures released by Experian®, the global business solutions company, 18,926 insolvencies were recorded in 2002, an increase of 1,691 on 2001.
A total of 4,728 companies failed during the fourth quarter of 2002 compared with 4,518 in the fourth quarter of 2001. The number of company failures was virtually unchanged between the third and fourth quarters of 2002.
