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The impact of high interest rates was to discourage both investment and consumption, and it created cash -ow problems for many companies, leading to bankruptcies and plant closures.
Bankruptcies are awards of sequestration and relate solely to individuals, partnerships, clubs etc and exclude limited companies.
The number of liquidations of companies and bankruptcies of partnerships in 1930 was 3,589, of which 3,024 were voluntary liquidations of companies.
There are now 2,500 bankruptcies a year in the industry.
In the first quarter of this year 1,372 bankruptcies were declared, most of them of small firms.
We are all familiar with the rate of bankruptcies and closures of small businesses over the last few years.
Hundreds of people have been put out of work and there are hundreds of bankruptcies and impending bankruptcies.
The numbers of bankruptcies in the cotton trade for the years 1927 to 1931, respectively, were 9, 8, 25, 26 and 26.
One hears of bankruptcies in the most unexpected quarters.
The corresponding numbers of bankruptcies were 215, 266 and 250 respectively.
Last year there were 3,000 receiverships, 5,000 compulsory liquidations, 8,000 personal bankruptcies and 9,000 voluntary liquidations.
Will this not lead to even higher unemployment, more bankruptcies and lower growth?
The table as follows shows the number of bankruptcies broken down by self-employed and other individuals along with related percentages.
They will try to squeeze demand, which will produce bankruptcies—and not only in retailing.
Is she aware that business now understands that the unified business rate has worked against business and led to many bankruptcies of small businesses?
