KSA Group has done an analysis of the number of winding up petitions (WUPs) that have been advertised recently in the London Gazette. They are interesting in light of the recent insolvency statistics that have been released.
January 2011 saw a total of 999 winding up petitions advertised. This was a huge number and if you look at the number of administrations last year they were highest at this time of year. However, liquidations did not show a particularly high peak at that time. So, how many have been advertised in January 2012? The answer is 766. This is a more usual figure but it is likely that the total number of insolvencies may not show the increase that many are expecting in Q1 2012 following a slight increase in Q4 2011.
That said, directors should not be complacent and it may be that many businesses have fallen before a creditor has resorted to issuing a winding up petition which is seen as a last resort.
But if you get one of these then give us a call. You must act!