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LATEST NEWS & EVENTS Corporate insolvencies 'fell in May'  The number of corporate insolvencies occurring in the UK fell last month, it has been suggested. According to new figures from Experian, a total of 1,491 companies went bust in May. This was a fall of 18 per cent compared with April, the organisation pointed out. Meanwhile, within the small to medium-sized enterprise sector, the rate of insolvency decreased from 0.24 per cent in April to 0.13 per cent last month. Responding to the findings, managing director of Experian company pH Rolf Hickmann said: "The fall in the number of insolvencies is a good sign and shows that businesses are distinctly aware of the current environment and are taking vital steps to protect themselves from risks." However, companies need to ensure they continue to proceed with caution regarding their risk exposure and those they choose to deal with, he added. In a bid to prevent a decline in the fortunes of firms, chancellor George Osborne announced in his emergency Budget yesterday (June 22nd) that he is to defer a rise in VAT until the new year. Rick Munro, head of corporate recovery and insolvency at Lamport Bassit,t said: "Whilst it's a positive sign that the number of corporate insolvencies has fallen this month, this may well be a temporary respite. "It is important that those businesses facing difficulties seek advice early from a local insolvency specialist, as chances of survival are likely to be better Posted by James Walsh 
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