Risk of companies going bust in North East drops 15%

14 July 2015

According to the latest research from insolvency body, R3, the number of companies at high risk of insolvency has fallen 15% in the North East during the first six months of 2015.

Transport and haulage businesses in this region are performing the best compared to other regions across the UK.

Most sectors, including IT, professional services, construction and manufacturing, have shown a fall in companies at risk of insolvency, however the hospitality sector has remained stagnant while restaurant businesses are up 9%.

Chairman of R3, Allan Kelly, said “The general sentiment across the regional business community in the first half of the year is undoubtedly as positive as we've seen for a very long time, and the findings of our research show how this is being borne out in companies' everyday operations.

The government's insolvency statistics for April to June 2015 will be released later this month and, judging by early data, will show a continued decline in company insolvencies.