Hotel and leisure insolvencies increase in September
The number of hotel and leisure insolvencies increased slightly last month, although the long-term trend remains positive.
According to the latest Insolvency Index from Experian, 113 hotel and leisure businesses went under in September, compared with 105 in August.
Year-on-year, September's 113 insolvencies were ahead of 2009's 107 also, although the trend in recent months has shown a gradual recovery, with insolvencies within the hotel industry falling.
The increase in hotel and leisure insolvencies came against a mixed national picture in September, which, after months of improvement, saw an increase in insolvencies month on month, although the situation still remains better than a year ago.
Max Firth, managing principal of PH, an Experian company, said: "This underlines why businesses must be vigilant and closely monitor the financial health of every organisation they do business with."
Recent exclusive research for Caterer and Hotelkeeper revealed cautious optimism among operators, who remain fearful of the effect of public sector cuts on trade next year.
Research reveals cautious optimism >>
Maypole Group goes into administration >>
Number of hotel insolvencies continues to fall >>
By Chris Druce
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