Insolvencies up in business services sector
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Experian report says 1,551 firms closed in first quarter of 2009
UK-- Insolvencies in the business service sector rose by 32% year-on-year in the first quarter of 2009, according to Experian's latest Quarterly Insolvency and Distress Index.
The sector, which includes market research and polling firms, ad agencies, data services companies and software suppliers, saw 1,551 companies go out of business compared to 1,167 in the same period last year.
March saw the most casualties with 586 firms becoming insolvent while 460 and 505 closed their doors in January and February respectively
Experian reported that there were 712,400 companies in the sector as of March.
Author: James Verrinder
Related links:
UK business services insolvencies up 27%
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