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The number of British businesses going under hits four-year high

Updated: Sep 17, 2018



The number of British businesses going bankrupt hit a four-year high in 2017 and it was reported that one in every 213 companies fell into liquidation by The Telegraph.



In January 2018, official figures showed that 17,243 companies entered insolvency in 2017, a rise of 4.2% from 2016 and the highest since 2013.


After British construction giant Carillion fell at the start of 2018, they became the UK's biggest corporate catastrophe in 10 years and caused the entire construction industry to go under further stress.


The worst affected sectors as part of the report were administration and support services, followed by the construction, wholesale and retail industries. The three sectors accounted for 50% of all business insolvencies.


As we’ve moved through the first half of 2018, we have seen further problems with retail firms in financial crisis such as Maplins, Toys 'R' Us, Claire's (Accessories), Bench, Henri Lloyd, Poundworld and the prediction is that more firms will hit hard times as we move through the next half of the year.


For a full list visit http://www.retailresearch.org/whosegonebust.php and for the full The Telegraph article see https://www.telegraph.co.uk/business/2018/01/26/number-british-businesses-going-bust-hits-four-year-high/