Decline in number of Rugby firms going bust

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Fewer companies in Rugby closed in 2012 than 2011 – but there has also been a decline in the number of new businesses.

A total of 424 companies were dissolved in Rugby in 2012. The total is 7.8 per cent lower than in 2011, but compares unfavourably with the UK figure of a 6.6 per cent decrease compared to the previous year.

Meanwhile, 642 companies were formed in Rugby last year. The total is 2.9 per cent lower than in 2011 and is lower than the UK figure of an 8.6 per cent growth.

The figures come from ‘business formation agents’ – and managing director Peter Valaitis believes they give grounds for optimism. He said: “Rugby suffered at the height of the recession. However, it’s good to see that new companies continue to be set up.