Archive - Monday, 19 September 2005


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More businesses will fail this year

Nearly 50,000 businesses are set to go bankrupt in the coming three years as the economic slowdown takes hold.

Chartered accountants BDO Stoy Hayward said it was predicting the first rise in the number of firms going under since 2002.

The group expects 15,968 companies to fold during 2005, the equivalent of 307 businesses a week, representing just under one per cent of all UK firms.

This represents a modest increase from 2004, when 15,876 businesses went bust, the lowest level since 1997.

But it said it expected the number of business failures to rise by five per cent in 2006 to 16,773.




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