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Number of receiverships falls

The number of companies going into receivership and administration fell by 20 per cent in June compared to May, according to the accountants Touche Ross. The average number of company collapses in the first half of 1995 fell by 9 per cent compared to the same period a year ago, the same figure reported by the credit insurer Trade Indemnity yesterday. Trade Indemnity said this showed that the rate of decline in business failures was slowing, as the recovery slows, while Touche was more bullish, saying its figures reflected "unchanged economic performance". More than 65 per cent of failures were in construction, manufacturing and retail, according to Touche.

Emap, the publishing group, is buying Herald & Post Newspapers, publisher of four free titles including the Luton & Dunstable Herald & Post, from Thomson Regional Newspapers. The titles had a turnover in 1994 of pounds 4.2m. The acquisition, which is subject to the consent of the Department of Trade and Industry, will strengthen Emap's position in the Buckinghamshire, Bedfordshire and Herfordshire regional markets.