There were 152 insolvencies in the West Midlands in September compared to 111 last year. That said one should not draw too many conclusions from one month's figures. It is possible that HMRC have started to be a bit more aggressive for this month or the banks have had a look at the lend in the region and decided to call the loan in. There is some anecdotal evidence that the banks are more confident of higher asset values of failed companies and so are prepared to pull the plug.
George Davis and Russell Mallen, our regional managers in the Midlands had the following comments.