Insolvency rates on the rise

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South Yorkshire insolvency expert Steven Fennell is warning of an increase in business insolvencies before the economy recovers.

Mr Fennell, partner at law firm Kennedys, says the number of company insolvencies in England and Wales rose by 6.5 per cent in the third quarter of 2011, the highest rate of increase in almost two years.

“It is probable we will see an increase in the number of viable businesses which will need to restructure through insolvency before the economy has fully recovered,” Mr Fennell adds.