Insolvency calls rising

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Insolvency specialist Paul Moorhead says calls from business owners worried about the future have doubled, despite a nationwide fall in business insolvencies in recent months.

Mr Moorhead, who is the founder of Rotherham insolvency practice Moorhead Savage, said: “The bad news about the economy generally has made business owners anxious about the future. People who have seen the fortunes of their businesses gradually worn away are now of the opinion that things are unlikely to improve quickly so they are asking is now the time to seek advice about what their options are.

“There’s no question that finances are tight so, instead of taking holidays, it seems that many people are using this time to get to grips with their financial situation.”

Mr Moorhead says he is even getting enquiries from the not for profit sector.