Agriculture sector hit by insolvencies

The agriculture, forestry and fishing sector saw a 100 per cent increase in the number of insolvencies in the past year.

But it still had one of the lowest percentages of businesses failing, according to information services company Experian.

The sector lost 12 businesses compared with the 1,962 that closed across the board. The financial strength score of businesses in the UK dropped from 80.93 in July 2010 to 79.84 in July this year. This left the agriculture, forestry and fishing sector well above average at 84.41.

Experian also revealed that 13 per cent fewer large firms failed in the year leading up to July 2011 compared with July 2010. But smaller businesses employing 51-100 people had the biggest increase in insolvencies, with the proportion failing rising to 0.22 per cent by July this year.


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