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Winding up petitions advertised continue to fall

2 May 2012

We may be in a recession, according to the statistics, but the number of winding up petitions that are being issued continue to fall.  In April 2011 the number of petitions advertised was 734 but in April 2012 the number  had fallen to 607.  This represents a fall of 17%.  In March 2012 the numbers were also down from 650 to 610 so the figures haven't been distorted by Easter.  February 2012 did see a significant rise in the number of petitions which we did report as there was a corresponding increase in the number of distressed companies at that time.Given that HMRC issue some 60% of winding up petitions it is a clear indication of their willingness to take aggressive action.  Alternatively perhaps we are seeing a recovery in businesses financial health.  Other indicators of the economy do suggest an increase in business confidence.If you have been threatened by a winding up petition then you must take action as the advertisement of the petition will result in the freezing of your bank account.

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