More people and firms going bust

There has been a sharp rise in the number of people and companies being declared insolvent in England and Wales, government figures show.

Individual insolvencies went up by 8.8% in the third quarter of the year to reach 27,087.

Corporate liquidations also went up by 10.5% in the same period, to 4,001.

The increases have been widely predicted because of this year's sudden economic downturn and the consequent rise in unemployment.

The rising trend started this year as the economy stated... (28 more words)

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