News

The haulage industry has suffered more business failures than almost any other sector since the start of the recession, and it could continue to do so throughout 2010, predicts corporate recovery specialist Tenon.

Tenon Recovery puts haulage alongside print, leisure and property development as the sectors which have suffered most company collapses.

It says that in all sectors, a further 5,800 businesses could collapse before the end of the  year, bringing the total number of corporate failures since September 2008 to 32,000.

Even though some companies might be experiencing a modest recovery, Tenon predicts that the number to fail in the final quarter of 2010 could be as many as 6,300 - a 23% rise on the first quarter of this year.

Carl Jackson, national head of Tenon Recovery, says: "Corporate insolvency levels are already at record highs, and we are unlikely to see any improvement for the next 18 months."

He adds: "Business owners need to take action now to protect themselves against what will be another hard winter, planning and forecasting to ensure they have the necessary resources to cope in the first few months of the new year, which traditionally sees inflated levels of business failures."