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LATEST NEWS & EVENTS Corporate insolvency rate rises  More firms could be making use of an insolvency lawyer or commercial debt recovery solicitor as new figures show businesses are failing at a faster rate than last year. The corporate insolvency rate in the UK increased from 0.08 per cent in September 2010 to 0.09 per cent last month, according to latest figures from Experian. Large firms - those that employ more than 500 staff – suffered the least, with a 25 per cent year-on-year fall in insolvencies. The biggest rise was seen with micro businesses, which reported a 25 per cent increase in failures at 258 in September. Max Firth, managing director of Experian Business Information Services in the UK and Ireland, said: "While larger businesses bucked the trend in September, our analysis underlines how important it is that companies understand the financial strength of their customers, suppliers and business partners." Insolvency body R3 recently warned that it has seen a nine-point rise in businesses using their maximum overdraft facility as other credit lines dry up. Posted by Alex McLean 
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