In the second quarter of the year there were 98 company insolvencies in the paper, printing and publishing sector, down 29% on the same period in 2002. The number of insolvencies across all manufacturing sectors fell 24% to 516.
There were also nine individual bankruptcies in the paper, printing and publishing sector in the period, compared to 12 in the second quarter of last year.
There were 3,398 company insolvencies across all sectors in Q3, down 11% on Q2 and a decline of 12.5% year on year. Around 1% of all active firms have failed in the last year.
However, there were 17% more individual insolvencies across all sectors in the period, compared to last year, at 9,094.
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"Gosh! That’s a huge debt - especially HMRC! It’s a shock that HMRC allowed such an amount to be accumulated."
"Whatever happened to the good old fashioned cash job! At least the banks didn't take 2-3% of each sale. After 30 odd transactions that £100 quid you had has gone."
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