60% surge in firms gone bust: SBP

130 firms went under in Q1 up from 81 in Q1 07, a 60% increase. Firms that went liquidation, examinership or recievership are recorded. There was large increase in construction firms at 53, hospitality at 14 and the IT sector has gone from just one in Q1 07 to 9 in 08. There were 370 firms that went bust in 07 as a whole.

No good, I guess a lot of the IT firms are being stung by the EUR/USD rate.