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Bankruptcy: Greater London

Business, Enterprise and Regulatory Reform written question – answered on 21st January 2008.

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Photo of Paul Burstow Paul Burstow Shadow Chief Whip (Commons)

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.

Photo of Pat McFadden Pat McFadden Minister of State (Department for Business, Enterprise and Regulatory Reform) (Employment Relations and Postal Affairs), Member, Labour Party National Executive Committee

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
1997-98 37 19 12 3 71
1998-99 10 7 3 1 21
1999-2000 54 21 17 7 99
2000-01 62 26 13 7 108
2001-02 40 17 17 4 78
2002-03 67 12 8 7 94
2003-04 76 22 19 9 126
2004-05 99 31 16 8 154
2005-06 132 23 17 5 177
2006-07 333 25 16 1 375
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
1997-98 61 6 2 5 74 1,225
1998-99 120 11 6 4 141 1,370
1999-2000 158 26 6 9 199 1,047
2000-01 117 20 13 3 153 993
2001-02 147 17 10 3 177 866
2002-03 198 39 8 5 250 1,211
2003-04 173 21 13 7 214 823
2004-05 104 11 2 6 123 1,137
2005-06 72 19 8 3 102 1,364
2006-07 156 22 9 13 200 1,651
(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.

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