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13/11/2008
Leap In Number Of NI Business Failures
There was a third more business failures in Northern Ireland in the 12 months up to the end of September.
The Department of Trade and Industry has revealed that 1,011 bankruptcy orders had also been made in the same period, a rise of almost 8%.
Employment statistics issued on Tuesday also show the numbers claiming unemployment benefit in October rose by 1,100.
The number claiming unemployment benefit is 30,300 - a four-year high. A DETI statement said the construction industry accounted for 65% of the rise and the unemployment figures also reflected some of the redundancies at Seagate in Limavady, which finally closed its doors in September.
Overall, it is estimated that half of the 1,011 bankruptcy orders will have been made by private individuals.
In the period between October 2006 to September 2007, 106 compulsory winding up orders were made, the following year saw the figure rise to 142.
(BMcC)
The Department of Trade and Industry has revealed that 1,011 bankruptcy orders had also been made in the same period, a rise of almost 8%.
Employment statistics issued on Tuesday also show the numbers claiming unemployment benefit in October rose by 1,100.
The number claiming unemployment benefit is 30,300 - a four-year high. A DETI statement said the construction industry accounted for 65% of the rise and the unemployment figures also reflected some of the redundancies at Seagate in Limavady, which finally closed its doors in September.
Overall, it is estimated that half of the 1,011 bankruptcy orders will have been made by private individuals.
In the period between October 2006 to September 2007, 106 compulsory winding up orders were made, the following year saw the figure rise to 142.
(BMcC)
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Northern Ireland WeatherThis Evening and Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
