The number of hotel and leisure businesses going bust continued to fall in August, in line with the improving national insolvency trend, according to new data.
Experian's Insolvency Indexform showed the positive trend of fewer hotel and leisure insolvencies in the past months also continued in August, with 105 failures compared with 108 in July, and as many as 129 back in April of this year.
Year-on-year the insolvency rate in August was 16% better than August 2009 when 122 hotel and leisure businesses went under in the depths of the UK recession.
The leisure and hotel industry also showed the largest increase in financial strength within the index, going from 78.10 up to 79.34. This compares with a national financial strength score for all industries in August of 81.06.
Nationally the insolvency rate for all industries last month hit a three-year low with 1,391 UK businesses failing in the month (2009: 1,783).
By Chris Druce
If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to www.caterersearch.com/tabletalk
Looking for a new job? Find your next job here with Caterersearch.com jobs