06 August 2012
Manufacturing insolvencies hit three year low
The number of manufacturing buisinesses entering administration has halved compared to the same period in 2009 according to data from business advisory firm Baker Tilly.
The 92 manufacturing sector administrations in the second quarter of the year are less than half the number for the equivalent period in 2009 (190) and approximately one third of those in first quarter of 2009 (257) at the peak of the recession, the data showed.
The manufacturing sector is benefiting from a more supportive environment according to Baker Tilly.
Matthew Haw, restructuring and recovery partner at the firm, said: "The manufacturing sector is benefiting from support from the Government as well as more tolerant secured creditors and the continued period of low interest rates."
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