Corporate insolvency rates to grow worldwide
In November 2006 Euler Hermes, the credit insurer, reported:
Economic outlook: global insolvency to increase in 2007
The forecast suggests a peak growth rate of 10% for the USA, as highlighted by Bob Eisenbach at In The (Red), and a global average increase in business insolvency rates of 3%.
The UK forecast is also 3%, but with this week's figures from Experian showing 10.7% UK corporate insolvency growth in 2006, posted here, that 3% forecast may be light.
You may be interested to know that in June 07 209 Administrations and Receiverships were advertised, compared with 249 in June 06. The respective figures for the 2nd quarter of each year were 608 and 718.
Of the appointments for June 07 44% were taken by IPs in the South East, 4% in the South West, 8% in the North East, 13% in the North West and 15% in the Midlands.