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Article: Miserable year sees more than 3,000 UK companies collapse; Thousands of jobs go - with more losses on the way.(News)
- Article from:
- Western Mail (Cardiff, Wales)
- Article date:
- January 2, 2009
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Copyright informationCOPYRIGHT 2009 MGN Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Aled Blake
THE UK's relentless slide into recession has wrought havoc on the corporate landscape over the past year, with company casualties already piling high.
High street names Woolworths and MFI were among more than 3,000UKfirms that collapsed into administration as they buckled under the pressure of soaring costs, falling consumer spending and the credit crunch.
But the year may be remembered for one company failure in particular - the demise of US investment banking giant Lehman Brothers.
The group represents one of the biggest company failures in ...