Insolvency rise expected despite 20-month low

DESPITE insolvency figures falling to their lowest rate in 20 months, a substantial increase in the number of firms collapsing is expected in the final months of this year.

More than 1,000 firms went out of business between January and August this year, up 14% on the same period last year.

However, the number of insolvencies dropped dramatically in August, falling from 125 in July to 95. This was the lowest monthly total so this year and the lowest since January 2009.