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R3, Why Insolvency Matters

Posted on 26 May 2015

R3, the trade body which represents the insolvency industry, has launched of its report 'Why Insolvency Matters'.

The report contains some interesting insolvency statistics, amongst others:

  • Rescued 40% of insolvent businesses 
  • Advised 70,000 Businesses 
  • 230,000 Jobs saved 
  • 2013-14 the profession advised 135,000 people 
  • Average individual debt inc mortgage £228,000
  • UK insolvency regime has one of the highest rates of return to creditors
  • Most Insolvency Practitioners are Accountants or Lawyers *
* Byrne Associates Insolvency Practitioners are both ACCA qualified accountants. To speak with one of our IP's please contact our Bristol office.  

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"having gone through this process, I wish I had known earlier how important it is to make sure you speak to the right people with insolvency qualifications. Thank you for your help"Director (Joinery Firm )

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