Deloitte figures show fall in administrations

18/01/2010 Deloitte figures show fall in administrations

The number of businesses entering administration fell slightly during 2009, according to new figures from Deloitte.

Data from the audit jobs provider recorded a two per cent drop over the course of the year, with 3,188 companies entering administration, compared to 3,245 in 2008.

However, the decrease accelerated towards the end of the year, with the final three months seeing an 18 per cent drop on statistics from the third quarter.

"As the year progressed we saw lenders become more versatile," observed reorganisation services partner at Deloitte Lee Manning.

He noted that firms have been able to "weather the economic storm", but warned that a "modest increase" in administrations is likely to take place in the first quarter of this year.

Earlier in the month, Grant Thornton research revealed that UK private businesses are becoming increasingly optimistic about their prospects, with the firm's International Business Report showing that the balance of enterprises upbeat about the near future is up to 16 per cent.

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