Breaking news from the BBC Paper tax returns to be replaced by digital by 2020


Chancellor George Osborne delivers his last budget before the General Election


55% Pension Death Tax To Be Abolished


April changes to VAT 15/03/12


Europe rejects UK's financial transaction tax challenge


Contact Us

News Items

Tax Tips

Great with People
Brilliant with Numbers
Clear and Precise with Words

Call us now on 023 8083 6900 ABDS Home

News - 2 January 2014

Firms in Administration down by 11% in 2013

According to a recent survey by a leading business advisory company, the number of firms that went into administration in 2013 was 1,629 compared with 1,833 in 2012, a drop of 11%

Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“In the retail sector, the number of firms going into administration fell by 6% to 183 in 2013, compared with 194 in 2012. Other sectors that experienced fewer administrations in 2013 included the hospitality and leisure sector, which fell by 17.5% to 141, and property and construction, which fell by 24% to 322. The healthcare and social services sector was the only sector that experienced an increase in company administrations in 2013, with an increase of 7% to 45.”

“This is great news for the property and construction industry. This shows a significant reduction and reflects the recovering health of the sector and we will hopefully get a knock-on effect in other areas such as retail, DIY, and the hospitality and leisure sector.”

If you need any help and advice for your business on financing, cash-flow, management accounts or business development and or recovery, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

Great with People  Brilliant with Numbers Clear and Precise with Words

« Back to News