Insolvency increases in the south east

Picture: Pierandrea Guarnieri

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THE number of businesses in the south east going into administration has increased, figures have revealed.

An analysis by Baker Tilly Restructuring and Recovery shows the figure increased by 32 per cent in the first quarter of this year, compared to the same time in 2010.

It means 75 firms in the region went into administration in the first three months of this year, compared to 57 last year.

Particularly hard hit is the services sector with 30 per cent and construction with 22 per cent increases.

The last year has seen a specific squeeze on these sectors as contracts decline or cease altogether. Overall, administrations fell 8.2 per cent across England, though figures varied by region.