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South east firms feel the squeeze 26 April 2011

According to Baker Tilly research, East Anglia saw an increase in administrations of more than 40 per cent compared to the first quarter of last year, while the south east (outside London) was the second worst area hit with a 31.6 per cent rise.

The south east (excluding London) saw 75 administrations in the first quarter, up from 57 the previous year. East Anglia had 24 compared with 17 in 2010.

In all other regions the number of administrations was down in the first quarter period.

London had 196 administrations in the first quarter, down from 230 in the same period last year. The other region with the largest number of administrations was the north west which had 124, less than 2010’s 132.

Yorkshire and Humberside had a 20 per cent reduction with 76 administrations in the first quarter, down from 2010’s 95. The north east saw a fall of 31.3 per cent with just 11 administrations, down from 16 in the same period last year.

Matt Haw, partner at Baker Tilly restructuring and recovery, said: “These figures show a reversal of fortunes when comparing the north and south in previous quarters. However, it may be too soon to say whether this is an emerging trend.”

He added: “The first quarter is typically a challenging time of year for many businesses. Combined with other challenges, the 0.4 per cent decline in GDP indicates further unforeseen pressure on the economy.”

In the south east the service sector was the most badly hit, it accounted for 40 per cent of all administrations in the region.

Property and construction firms also suffered accounting for nearly 30 per cent of administrations in the south east.





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