Company failures down in 2010

Deloitte said the number of companies falling into administration in the North West declined 30% from 555 in 2009 to 391 last year.

However, the final quarter of 2010 saw an increase of 4% on quarter three. The regional breakdown follows publication last week of the national picture by Deloitte, which showed property and construction bore the brunt of the economic downturn in 2010, with 453 companies going insolvent. This was a reduction of 34% from 2009 when 683 companies in this sector went into administration.

The retail sector saw a drop of 43 per cent, with 165 administrations in 2010, compared with 290 in 2009; Q410 had 44 administrations, an increase of 26 per cent on the 35 in Q310.

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