Read more: North East businesses see drop in demand National statistics released at the end of October revealed the UK had seen highest quarterly insolvency numbers since 2009 and the highest numbers of creditors’ voluntary liquidations since records began in 1960. In better news, North East businesses had more than 140,000 overdue invoices on their books during October, but that was lower than the figure reported in September. The figure was also a 50% rise on the 60 incidents last October. Latest figures for insolvencies in the North East show a big increase in the number of companies being affected, according to a leading trade body.Īnalysis by insolvency and restructuring trade body R3 of new data provided by CreditSafe found 90 insolvency-related activities in the region in October compared to 71 in September.
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