Bankruptcies fall as city bucks the trend

Companies in Cambridge continue to buck the trend, with eight going bust during the last quarter, compared with 10 in the previous three months and 15 in the same quarter a year ago.

However the news is not so encouraging for the region as a whole, which is going against a national trend of fewer insolvencies.

Local business rescue and insolvency experts, McTear Williams & Wood reported a 45% increase in East Anglia over the past quarter, with 94 firms going bust, compared with 65 in the previous quarter and 58 for the same time a year ago.

“Once again Cambridge seems to be faring better than the rest of the region,” said Chris McKay of MWW. “However there have been big cuts in the various local councils and we will have to wait and see what impact that has on the local economy.”

22 February 2011
Cambridge News
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