Tuesday, May 1, 2012

As banks STILL refuse to lend, nearly 70 firms are folding each day... the largest number in two years.....Should of let them wait for their Bailouts

Nearly 70 firms are collapsing every day, the largest number for two years, as banks continue to refuse to lend.

Researchers found that 2,112 businesses became insolvent in March, equal to 68 per day.

Nearly two-thirds of the victims were small firms employing between one and 50 staff, the sector worst hit by the country's lending drought.

It is the largest number of 'business deaths' since March 2010.

The figures, published yesterday by the financial information firm Experian, come days after official statistics revealed that Britain has plunged into its first double-dip recession since 1975.

In a report, Experian says four sectors of the economy – building and construction, leisure and hotels, non-food retailing and business services – dominate the list of failed firms. Read More