Business failures in Yorkshire dropped sharply in March, according to new figures published by chartered accountants Deloitte & Touche.

There were only 10 receiverships and administration orders in the region last month, as against 22 in February. Nationally the drop was far less dramatic with 96 failures compared to 118.

The total number of failures in the region for the first three months of 1998 now stands at 45, compared with 55 for the same period in 1997.

Angus Martin, corporate recovery partner in the Leeds office of Deloitte & Touche, said: "It is naturally very encouraging to see such a rapid drop in the number of business failures.

"The fact that last month's figures are much more in line with those recorded in January could indicate that February's alarming total was just a blip. This month's figures should reveal whether the trend for 1998 continues to be downward."

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