Rise in number of insolvencies
The number of people declared insolvent in England and Wales rose by nearly 9% during the third quarter of the year, figures showed.
A total of 27,087 people were made insolvent during the period, 8.8% more than during the second quarter of 2008 and 4.6% more than during the same three months of 2007, the Insolvency Service said.
At the same time the number of companies put into administration soared by more than 50% year-on-year to 1,007 in the three months to the end of September.
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