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Transport liquidation figure holds steady
Page 12
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LATEST FIGURES from the Insolvency Service show there were 150 company liquidations within the transport and communications sector in the second quarter of 2006.
This was the same number as in the first quarter of the year and about 10% fewer than in the same period last year. This sector also recorded 366 bankruptcies in the second quarter 12 fewer than the first quarter of 2006 and 15 fewer than in the second quarter of 2005.
In total there were 3,235 liquidations in England and Wales in the third quarter. a decrease of 0.4% compared with quarter two and a drop of 4.3% on the same period in 2005. This was made up of 1,335 compulsory liquidations and 1,899 creditors. voluntary liquidations.
CMrecently reported that annual liquidation figures for the transport industry were gradually rising. Last year 624 companies were liquidated, compared with 596 in 2004 and 504 in 1998 (CM2 November).
An Insolvency Service spokeswoman says that as well as haulage companies, the 'transport and communications' sector includes: freight brokers; storage and warehousing companies; postal services: telecommunications; and other miscellaneous transport services.