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Rise in UK bankruptcies
The amount of UK companies going out of business rose by 8.5% in the first three months of 2008, according to credit-rating agency Experian.
The organisation revealed 4,798 businesses ceased trading as the credit crunch started to spread beyond the financial sector.
The worst affected sector was business services, where 1,061 companies ceased trading, while the East Midlands saw the biggest rise at 54%.
"The message for businesses in this uncertain economic environment is clear. They need to exercise caution with regards to their risk exposure and the customers they choose to deal with," said Experian managing director Tony Pullen.
Post Date: April 8th, 2008