Public sector supplier insolvencies on the up

Deputy Editor
Sift Media
Share this content
Tags
0

Government spending cuts are having a knock-on effect on the private sector, with an increase in the number of supplier businesses going bust.

Insolvencies among businesses that supply goods and services to the public sector leapt up 47% in the last year, with 168 businesses in the health and social services, education and defence sectors going bust in the first half of this year, compared with 114 in the same period in 2009.

Corporate insolvencies as a whole fell by 5% over the same period.

This is according to figures from accountancy firm Wilkins Kennedy, which says the government's new cost cutting measures are creating corporate failures and job losses.

Businesses that have suffered so far as a result of public sector cuts

Please Login or Register to read the full article

Replies

Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.