Fewer UK firms are going bust

THE number of British companies declared insolvent fell during February.

A total of 1,834 firms went into insolvency in that month, 15 per cent fewer than in February last year, according to business information services group Experian.

The group said the fall brought the overall rate of insolvencies down from 0.11 per cent to 0.1 per cent.

Rolf Hickmann, managing director of pH, an Experian company, said: "

It is easier for smaller businesses, with just one or two employees, to make adjustments to their operations and pull in the reins when times are difficult."