Mid-sized and large firms see a drop in insolvencies in last year

MID-SIZED and large businesses have seen their fortunes turn around in the last year, with the number of insolvencies dropping notably.

The failure rate of firms that employ 100 to 500 people more than halved last month, compared to a year earlier.

The number of insolvencies for firms between 51 and 100 employees was also less severe than last June, falling by 13 per cent.

“Our analysis also shows that businesses in the north seem to be faring slightly worse than their southern counterparts,” commented Max Firth of Experian, which compiled the data.

The highest rates of business failure were seen in the north east, north west and Yorkshire. The lowest rate was in the south west and London.