The financial situation for small leisure and hotel businesses has improved slightly over the past 12 months, with insolvencies down by around 5% on last year.
That's the news from Experian's latest Insolvency Index, published today.
A total of 123 leisure and hotel businesses fell into insolvency in April 2011, down 4.65% on the same period a year before. Despite that, Experian's financial strength rating for the sector remained the same at 78.96.
Across all sectors, businesses with three to five employees saw the rate of failures fall quickly, with a 17% drop. The rate of failures for businesses with 26 to 50 employees fell even faster, with a drop of almost 25%.
The biggest improvements in business failures were recorded in the Midlands and Wales. The East, South-east and North-east continued to see failures increase by 26%, 15%, and 14% respectively.
By Neil Gerrard
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