England's 'insolvency hotspots' highlighted by R3 research
Date posted: 09 Jul 2010
Areas of the country with high personal insolvency rates have been highlighted by R3 through the publication of new research.
Published by Louise Border.
The nation's insolvency hotspots have been highlighted in new research published by one trade body.
R3 suggests that while London has only seen 17.1 in 10,000 people experience insolvency in recent times, the figure in the north-east stands at 29 per 10,000.
Meanwhile, insolvency rates in other parts of the country are said to be even greater, with Kingston upon Hull seeing 40.7 cases within each 10,000 members of its population.
Unemployment issues may have been behind these R3 figures, the organisation's president Steven Law suggests.
He said: "It is unsurprising that many of the top ten insolvency hotspots are coastal towns.
"Tourism and leisure services businesses are often the main employer in these areas."
Those who are experiencing financial problems but are failing to address their concerns should look to gain guidance as soon as they can, the expert added.
Meanwhile, following last month's emergency Budget, Mr Law also noted the negative financial impact that some businesses may face next year as a result of the coalition government's planned VAT rise.
Please contact Ed Turner, head of services for individuals, for further information or call 01223 225196
Click here to email or call on 01223 225011 or 020 7382 8011.
Chief Executive
Our team support business clients including multinationals, global brands, start-ups, leading professional partnerships and sole traders. We provide advice in relation to their people, customers, contracts, finances, products, services, IP, know how or their property.
Learn more...
