Sunday, 21 March 2010


The figures from the Insolvency Service marked the depth of the recession, with 35,574 people declared insolvent in the last three months of the year.

The number of businesses going bust also rose to a new annual record in 2009, with 6,355 going under.

Over 2009 as a whole, there were 134,142 people declared insolvent in England and Wales. This was up 26% compared with 2008, and higher than the previous record - in 2006 - of 107,288. Records began in 1960.

17,007 bankruptcies

This is a result of increased creditor pressure which is unlikely to let up any time soon
In the last quarter of 2009, the number of companies going bust fell by 7% to 1,465, compared with the previous quarter.

For the whole of 2009, the number of firms being liquidated rose to a record 19,077, an increase of 23% compared with the previous year.

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