The latest PwC corporate insolvency analysis shows that 3,467 companies became insolvent in the second quarter of 2010, a 21% decrease on the previous quarter and a 28% decrease on the same period a year ago. On a rolling twelve month basis, the numbers show an 11% decrease in insolvencies.
The worst affected sectors were construction (555 companies), manufacturing (421), retail (342) and real estate (150). Real estate saw a 3% increase in insolvencies since the last quarter but a 34% decrease when compared to the same quarter in 2009. London had the highest number with 869 but compared to the same quarter in 2009 saw a 21% decrease. All regions have seen drops in insolvencies since the last quarter, the highest being in the North East and Cumbria, which saw a 30% drop.