Interesting findings from a study conducted by the Centre for Economics and Business Research (CEBR)
The UK insolvency industry:
– Employs 12,700 people directly, including 1,744 licensed insolvency practitioners, in 714 firms
– Provides assistance to businesses with a combined turnover of £132 billion each year
– helps to save 901,000 jobs annually in businesses that are suffering from solvency problems
– Is ranked ninth out of 127 countries for speed with which it deals with troubled businesses and tenth out of 175 countries for the amount it recovers for creditors
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