AN insolvency map of England and Wales has been unveiled by the Government – and towns and cities across Yorkshire and the North East are highlighted among the hotspots for financial pressures.

The Insolvency Service has created the insolvency map after capturing and scrutinising data from Parliamentary constituencies up and down the land.

Insolvency researchers focused on individual insolvencies, bankruptcies, debt relief orders (DROs) and individual voluntary arrangements (IVAs)

And they revealed that three constituencies in Yorkshire and the North East were among ten nationwide with the highest individual insolvency rates.

Scarborough and Whitby, Kingston-upon-Hull East, and Easington in County Durham all featured in the top ten, with insolvency rates more than double the national average. There were more than 1,000 new cases of personal insolvency between them in a 12-month period.

Looking at those constituencies which had witnessed the biggest spike in personal insolvencies year-on-year, figures for Yorkshire and the North East also gave cause for concern.

The region was responsible for four of the top ten constituencies with the biggest increases – Hatlepool, Halifax, Stockton South and Barnsley Central all posting year-on-year rises in personal insolvencies of more than 12%.

By comparison, York Central topped the national table for the biggest decrease – a 6.4% fall in individual insolvencies from the previous 12 months.

The Insolvency Service research spotlighted Batley and Spen, as well as Kingston-upon-Hull West and Hessle as two of the constituencies nationwide with the highest bankruptcy rates – almost twice the national average.

For the fifth year in a row, Scarborough and Whitby topped the league table for having the most debt relief orders (DROs) – nearly five times the national average at 27 per 10,000 adults. Halifax, Stockton North and Kingston-upon-Hull East also climbed into the DRO top ten after posting the largest year-on-year increases.

The biggest decrease in DROs also came in Yorkshire and the North East, with the constituency of Sheffield Brightside and Hillsborough seeing its number more than halve.

The urban areas of the North East and South Yorkshire both figured prominently on the insolvency map charting the rise in IVAs – Easington in County Durham having the second highest IVA rate in England and Wales, and Wentworth and Dearne following just behind.

The Insolvency Service data can be accessed in full here: https://www.gov.uk/government/statistics/individual-insolvencies-by-parliamentary-constituency-england-and-wales-2018

Here at Walsh Taylor, when financial difficulties arise, we’ll put time on your side.

For more information on how our licensed insolvency practitioners and business recovery teams in Leeds, Bradford, Harrogate and Darlington can help you, please call us on 03300 244 660 or email confidential@walshtaylor.co.uk

Mary Taylor
Director

Mary began working in insolvency for a national accountancy practice in Glasgow thirty years ago and worked in most divisions of the insolvency department.

She then moved to a smaller firm so she could advance her knowledge on a more hands on basis. She moved back to Leeds in 1987 and commenced working with a small firm of accountants and subsequently made partner.

She left in 1999 to set up her own practice, McCann Taylor.
McCann Taylor became involved with the consumer market both in England and Scotland.

Mary sold McCann Taylor in March 2007 and formed Walsh Taylor to concentrate on helping businesses experiencing financial difficulties.

Kate Ellis (neé Breese)
Insolvency Practitioner

Kate has worked in insolvency since 2001 starting out at a firm of solicitors in Leeds and latterly gaining positions within two national accountancy firms.

During this time Kate gained extensive experience in all aspects of personal and corporate insolvency, for the first part of her career specializing in personal insolvency and latterly corporate.

Kate has been with Walsh Taylor since its incorporation in September 2008.

Kate is CPI and JIEB qualified, is experienced in a variety of industries and sectors and is the firm’s joint appointment taker.

Meg Heath
Director

Meg has a background in supporting SMEs, including the raising of finance and advising on organisational change. She is a non-executive director of companies in the private and third sector, including Walsh Taylor.

Previously she was Deputy Fund Director of one of the largest CDFIs in the UK, and has experience of the social enterprise, charity and private sectors. Her experience of assisting companies to survive and thrive has been gained across a broad range of sectors and in companies of all sizes.

In addition to her work at Walsh Taylor she works for other private companies, including non-executive and trustee positions.

Emma Mifsud
Insolvency Practitioner

After graduating from Leeds University in 2005 with a BA Hons degree in Criminology, Emma worked for a regional law firm in both the property department and insolvency and banking department. Whilst doing so Emma gained a Graduate Diploma in Law at BPP University.

Emma then joined a national accountancy firm in 2009 gaining experience in personal insolvency before moving to a Leeds based firm. At this firm Emma specialised in bankruptcies, IVA’s and negotiating informal agreements with creditors. In 2013 Emma gained her CPI qualification.

Since joining the firm in December 2013, Emma has taken on a portfolio of personal and corporate insolvency cases to extend her knowledge and expertise in all areas of insolvency.

In December 2017 Emma become a licensed appointment taker under the Insolvency Practitioners Association, she is JIEB qualified.

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