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Wednesday, 21 April 2010

Business failures falling? CVA's rising?

The number of business failures fell 11 per cent to 7,719 for the first quarter of 2010 compared to 8,684 during the equivalent period in 2009, a report from Equifax has revealed.

Equifax said its latest Business Failures Report revealed that company failures in the first quarter were also down 0.5 per cent on 7,756 during the fourth quarter of 2009.

To me this fall is not surprising given the time to pay schemes in place from HMRC and the reticence of the banks to knock companies down.

I also detect a rise in the use of CVA's over the last 3 months, which is very encouraging for us CVA Experts. The more CVA's approved, the less skepticism there will be from lenders, large insolvency firms and the man in the pub.

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