Business insolvencies fall

The number of business insolvencies fell 17 per cent to 1,635 in October compared to a year earlier business information provider Experian said yesterday. The downward trend in the number of companies going out of business is being maintained, despite worries about the economic outlook and some high-profile casualties. The figures back up official statistics released earlier this month by the Insolvency Service showing insolvencies in the third quarter at 3,974 were 2.2 per cent down on the second quarter and almost 14 per cent lower than last year.