Region sees fall in number of insolvencies

YORKSHIRE saw its business insolvency rate fall year-on-year in May, according to new data, which showed improvements across many areas of the UK.

The figures from Experian found that there were 125 business insolvencies in May in Yorkshire, down from 136 a year previously, while 0.10 per cent of the region’s business population failed, compared to 0.11 per cent in May last year.

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The business insolvency rate for the UK maintained its low level of 0.08 per cent for the fourth month running, down from 0.09 per cent a year previously. The insolvency rate fell in seven out of the 11 regions in May 2013 – an improvement on the same month in 2012, when just Yorkshire saw an improvement on the previous year.