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UK corporate failures set to rise

Corporate insolvency specialist Begbies Traynor said today that the number of corporate insolvencies in the UK was relatively flat in the six months to the end of April 2010 compared to the previous six months. However, the company believes there are a great number of UK companies which are effectively "zombie businesses" and dead on their feet at the moment. It is these companies which are highly likely going under in the short to medium term and lead to a potentially significant rise in corporate insolvencies.

This is the often unseen end of the recession where banks and supporting shareholders are often seen to withdraw their financial support just as the recession fades into the background. By potentially waiting until the recession has ended and the UK economy is a little more buoyant this will give creditors the best chance of obtaining the best price for these failing businesses. We will likely see a similar scenario in the personal bankruptcy market with a large number of people in the UK struggling to survive on a month-to-month basis.

On the surface the UK may well be waving goodbye to the recession but in reality this downturn will change the lives of thousands of businesses and thousands of individuals in the UK forever. For many people the most difficult and challenging times may still lay ahead.

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