The number of UK companies applying to be wound up fell by 3% last year the Ministry of Justice reports.
The number of creditors forcing companies to be wound up and individuals being made bankrupt, also fell during last year. A total of 11,791 companies went out of business through insolvency or other problems in England and Wales in 2007.
Experts are predicting an increase over the coming months as the economic slowdown starts to have an effect. One such expert saying that they had seen more activity at the end of last year than they had seen in the whole of the first nine months put together and that the unavailable figures for January and February 2008 were bound to show a rise.
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