OTHER NEWS - March 30, 1992

Record Number of Failures for Britain: About 160 British businesses failed every day during the first three months of this year as the recession continued to take its toll, particularly on small firms, according to a published report. The report by business information group Dun & Bradstreet showed that 14,881 businesses were liquidated or declared bankrupt in the first quarter, 4.5% more than in the final quarter of last year and a massive 54% increase over the same period in 1991. Bankruptcies among small firms rose to 773 a week from 708 in the previous three months, while the number of corporate liquidations slowed to 467 from 479, Dun & Bradstreet said. Philip Mellor, Dun & Bradstreet’s marketing manager, said he expects the rate of failures to continue rising for some time after economic recovery gets underway.