Corporate insolvency remains low at the start of 2014 has been saved
Corporate insolvency remains low at the start of 2014
29 April 2014
Dan Butters, restructuring services partner at Deloitte, comments on today’s Insolvency Service figures:
“The number of businesses falling into administration in the first quarter of 2014 is down 10% on the previous quarter, reflecting low levels of corporate insolvency. Despite a slight rise in administrations (1.2%) on this time last year, we are not experiencing a recurrence of the clear out of well-known retail names we saw then. Research by Deloitte points to a resurgence on the High Street, with just 20% of high street shops affected by 27 high profile administrations since 2009 remaining vacant.
“Company liquidations measure a 5% (4.9%) increase on this time last year, but otherwise remained stable over 2013. It is hard to imagine this picture changing soon, with the majority of lenders and other stakeholders expecting to see no change or reductions in restructuring activity this year.”
Notes to editors
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
Member of Deloitte Touche Tohmatsu Limited.