BUSINESS failures in Yorkshire soared by 137 per cent last month, reversing the downward trend of the previous three months, according to the latest statistics published by professional services firm Deloitte & Touche.
The total number of receiverships and administration appointments in the Yorkshire region rose to 19 in July from eight in June. Nationally, the number of receiverships rose by nearly eight per cent to 154 in July.
Angus Martin, reorganisation services partner for Deloitte & Touche said: "Although this steep month-on-month rise is disappointing, the July figure is actually more in line with the monthly average so far this year, and confirms the low June figure as being the real aberration.
"The indications are that the recession in manufacturing and the appallingly tough conditions faced by rural industries are having an effect. The total number of business failures in the region this year is running at a higher level than a year ago and we can expect worse to come."
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