Company insolvency statistics for the first quarter 2003


Statistics showing insolvencies in the first quarter 2003 are published today (2 May) by the Department of Trade and Industry.

There were 3,684 company insolvencies in England and Wales in the first quarter of 2003 on a seasonally adjusted basis. This was a decrease of 13.9% on the previous quarter and a decrease of 8.2% on the same period a year ago.

Of active companies, 1.1% became insolvent in the twelve months ended Q1 2003, the same percentage as the previous quarter and the corresponding quarter in 2002.

The figures for company insolvencies are made up of compulsory liquidations (winding-up orders made by the courts) and creditors' voluntary liquidations registered at Companies House. A third type of winding-up, members' voluntary liquidation, is not included because it does not involve insolvency.

Source: Department of Trade and Industry



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