Number of business failures rises

Number of business failures rises

The number of business failures in Britain jumped by a quarter to 840 in the first three months of this year, the bad debt specialists Trade Indemnity said. The biggest increases were in Scotland, the South-west and Wales. The textiles and clothing and furniture and upholstery industries had their most difficult quarter since mid-1993. Trade Indemnity predicted earlier declines in the rate of busines failure would tail off as the economy slows.