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To ask the Secretary of State for Business, Enterprise and Regulatory Reform how many businesses in each London borough filed for bankruptcy (a) less than five years, (b) less than 10 years, (c) less than 20 years and (d) more than 20 years after their establishment in each year since 1997; and if he will make a statement.
The information requested is not readily available and to attempt to provide it would incur disproportionate cost. The figures given as follows are the best that can be provided in the time available from information held centrally.
Table 1 records the number of individual bankruptcy orders in the London region (classified according to the Official Receiver's (OR) offices), for those cases where trading information was available. The figures are broken down by the length of trading period (years). Table 2 shows a similar breakdown for company compulsory liquidations.
It should particularly be noted that the only information held on which to base 'length of establishment' is the trading start and end dates, but that this is only available for on average 25 per cent. of trading bankrupts and 20 per cent. of compulsory liquidations over the period requested (nationally). This means that these figures should be interpreted with extreme caution and should not be considered to be representative of the totality of trading bankrupts or company liquidations during the period in question.
A breakdown by length of establishment is not available by London borough. Further, it should be noted that there are movements of individual OR's offices between broader regions which coincide with financial years, notably in FY 2004-05, Croydon OR's office moved from Anglia to London region. This means that the statistics cannot be treated as a consistent time series.
|Table 1: Number of individual bankruptcy orders by length of time trading, in the London region, 1997-98 to 2006-07( 1, 2)|
|Trading length (years)|
|Financial year||Less than equal to 5||6-10||11-20||More than 20||Total cases trading length available|
|Table 2: Number of company compulsory liquidations by length of time trading, in the London region, 1997-98 to 2006-07( 1, 2)|
|Trading length (years)|
|Financial year||Less than equal to 5||6-10||11-20||More than 20||Total cases trading length available||Total number of compulsory liquidations|
|(1) Croydon Official Receiver's office is classified under London region from 2004-05 onwards. It was previously classified under the Anglia region. |
(2) From 2004-05 onwards, the figures also include public interest unit (PIU) and carousel.