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Boom in going bust

Published 21 Aug 2009 08:00 Mobiles Print Comments 0 Comments

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BANKRUPTCIES are rocketing in Reading.

Reading County Court has dealt with 31% more people presenting their own bankruptcy petitions - 149 in the three months to June, compared to 114 in the same period last year. Nationally the increase was much lower at 18%.

Personal insolvencies also rose, from 258 in the three months to June 2008, to 338 in the same period this year, a 31.15% increase.

Insolvency specialist Tenon Recovery, which compiled the figures, estimated that the total would hit 1,433 by the end of year.

Its Reading director, Paul Ellison, said: "The worst is yet to come. Personal insolvencies are already at record levels and will continue to rise."

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