Duport research shows company closures rising in Burton upon Trent

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Company closures in Burton upon Trent rose during the third quarter of the year, according to figures in the latest Duport Business Confidence Report for the area.

Company closures are rising in Burton upon Trent

The figures in our report for Burton upon Trent are a clear symptom of the economic downturn, and reflect the situation across much of the UK

Burton upon Trent: There were 96 company closures in Burton upon Trent during the third quarter of the year, according to data recently released by leading company formation agents, Duport.co.uk.

This figure represents a 66% increase in company closures when compared with the same period in 2011. Net company growth also dropped dramatically, from 79 in Q3 2011 to just 6 in Q3 this year.

It is hoped that regeneration of Burton upon Trent will help kick start the local economy after a difficult period. There are plans to improve the railway station, refurbish the Market Hall and transform the Town Hall into an entertainment venue. Also in the pipeline are plans to renovate run down residential properties and build a Tesco superstore on the derelict Bargates site.

Peter Valaitis, Managing Director of Duport.co.uk said:

“The figures in our report for Burton upon Trent are a clear symptom of the economic downturn, and reflect the situation across much of the UK.”

“However, the redevelopment of the town centre and surrounding areas is a positive move by the local council. As the regeneration process continues we can expect to see company formations start to creep up again.”

The Duport Business Confidence Report for Burton upon Trent provides detailed data on a range of economic indicators, helping to give an overview of the local economy. More information can be found at http://www.duport.co.uk/burtonontrent.

Duport Business Confidence Reports are generated and released by Duport Associates Ltd. The data contained in these reports is assimilated and analysed by Duport using public record data from sources including Companies House, Office for National Statistics and Ordnance Survey. Duport Associates Ltd is a leading UK company formation agent, established in 1997 and registering around 10,000 new companies each year through its Companies House approved software.

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Tom Valaitis