WELSH FIRM WIND UPS AND BANKRUPTCIES HIGHER THAN REST OF UK

August 15, 2008 12:01 AM

Commenting on today's release of Company Wind-Up and Bankruptcy Petition Statistics, Jenny Willott, Welsh Liberal Democrat MP for Cardiff Central, said:

"These figures suggest that the Welsh economy is feeling the impact of the economic slowdown more than anywhere else in the UK.

"Compared to the first half of last year, company wind-ups in Wales are up 41%, and the number of creditors and debtors filing for bankruptcies is up 10% and 12%, higher than any other nation or region.

"If prices continue to rise, new orders fall and inflation remains high, many more companies are going to find that the books don't balance.

"The Assembly and Westminster Governments need to work closer than ever to ensure that everything is done to help Welsh firms through this extremely difficult period."

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