Bankruptcy: Cleveland

Business, Enterprise and Regulatory Reform written question – answered on 11th March 2009.

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Photo of Ashok Kumar Ashok Kumar Labour, Middlesbrough South and East Cleveland

To ask the Minister of State, Department for Business, Enterprise and Regulatory Reform how many businesses in Middlesbrough South and East Cleveland constituency were declared bankrupt in each of the last 24 months.

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

Self-employed traders may be declared bankrupt (or enter into an individual voluntary arrangement [IVA]), however, registered companies are the subject of liquidation (compulsory liquidation or creditors voluntary liquidation [CVL]).

It is not currently possible, from information held centrally in electronic format, to count the number of insolvent companies in Middlesbrough South and East Cleveland constituency.

However, the following table shows the number of self-employed bankruptcies in each month between October 2006 to December 2007.

Self-employed bankruptcies in Middlesbrough South and East Cleveland constituency
Number
2006 October 1
November 1
December 0
2007 January 1
February 1
March 1
April 3
May 0
June 1
July 1
August 1
September 0
October 3
November 0
December 1
Notes:

1. Classifying bankrupts into administrative geographies is done using the postcode the individual provides.

2. In particular, inaccurate or missing postcodes mean that the numbers in the above table will be subject to an element of missing data. Nationally, this proportion has been decreasing from about 12 per cent. in 2000 to less than 4 per cent. in 2007.

3. Figures are not yet available for 2008.

4. Changes were made to the part of the database used to capture information on trading status and consistent data is only available from October 2006 onwards.

5. Similar information is not available for individual voluntary arrangements entered into by the self-employed.

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