The number of corporate insolvencies has dropped significantly in the third quarter.
The number of company liquidations dropped by 13.9 per cent from the year before to 3,974, while administrations plummeted by 35 per cent compared to the year before to 633. Company voluntary liquidations also dipped by 14.4 per cent on the same quarter last year.
Administrations have now fallen for six quarters in a row since they peaked in Q1 2009, which saw 1,311 companies fall into administration. It is encouraging that the number of business failures is dropping across all sectors.