Lamport Bassitt Solicitors - Legal News - "All different types" of firms at risk of insolvency


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS "All different types" of firms at risk of insolvency The financial problems being faced in the UK are affecting a variety of businesses, it has been observed. A spokesman for the UK Insolvency Helpline explained that rather than being confined to certain sectors, the possibility of going bust is widespread. The organisation has seen calls to its corporate helpline rise by 30 per cent, he noted, with banks recommending the service because debts are so bad that advice is needed. "We are seeing a huge increase across the board, from all different types of companies," the spokesman stated. Further increases were predicted for the coming months, with a 20 per cent rise in calls expected. The comments follow the release of a report by business rescue group Begbies Traynor, which predicted an increase in failures next year. It suggested that a "W-shaped" recession may be seen, with current confidence likely to be followed by a "deluge" of firms going under in 2010. Related Articles: 1/2/2012 - Insolvency body warns of greater SME distress 31/1/2012 - Govt makes u-turn on insolvency reforms 25/1/2012 - UK Q4 GDP shrinks as corporate insolvency rate creeps up 19/1/2012 - Corporate insolvency rates may rise 11/1/2012 - BRC warns over further retail insolvency problems More Insolvency & Restructuring News