Basingstoke: Baker Tilly warns on insolvencies

Commenting on this morning’s Q4 2009 company insolvency statistics from the Insolvency Service, Southern Region Restructuring and Recovery partner at Baker Tilly, John Ariel said:

“Whilst government officials may breathe a collective sigh of relief today, they are not really in a position to rest on their laurels. All eyes should be on the financial impact for UK plc, as government funding support falls away and debt takes control.

“The dramatic 57.9% fall in company administrations proves the backing Government has provided to UK plc over the last year. However, with the Bank of England calling time yesterday on the quantitative easing programme, HMRC’s toughening stance on ‘time to pay’ agreements and previously lenient landlords becoming harder in their rent demands, administrations figures will rise again.”