Drop in firms going bust in region

THE number of administrations in the region has dropped by more than 25 per cent compared to last year.

New figures, collected by Baker Tilly, have revealed the drop in the third quarter of this year compared to the same quarter in 2010.

However the research show that Yorkshire’s administrations are up my more than ten per cent on quarter two.

Nationally, administrations were flat compared to 2010 but up 7.8 per cent quarter-on-quarter.

Nationwide, 29 per cent of the administration appointments were over construction and property companies. Retail and wholesale companies represented 15 per cent of appointments.

Phil Pierce, partner at Baker Tilly, said: “The insolvency figures, whilst positive for the region, demonstrate that businesses continue to have little room for manoeuvre either with growth or profit.”