Number of business failures in North up in fourth quarter

The number of business collapses in the North in the fourth quarter of 2007 has increased by 25.4% in 2007, according to figures released today.

The figures buck the trend of the UK overall - the number of British firms going bust in the same period - 4,674 - was down 20% on the same period of 2006. Wales saw also saw a rise, however, in the region of 3%.