Thu, 08 Jul 2010 | ADMINISTRATION
New research from PriceWaterhouseCoopers has revealed that corporate insolvencies are on the decline.
The firm found that the number of businesses to become insolvent has fallen by 21 per cent in the second quarter of 2010 when compared to the first quarter. Construction and manufacturing both saw a significant drop in insolvencies of 24 per cent and 37 per cent respectively. When compared with the same period last year, total insolvencies have dropped by 28 per cent.
“Businesses are starting to look at other options before insolvency is used as a last resort,” said Mike Jervis, partner in business recovery services at PwC.
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