THE danger of Lancashire firms failing during the next 12 months is higher than at the end of the last recession, according to financial information firm CCN.
At the end of 1993, just as the economy was pulling out of the recession, CCN predicted 24 per cent of firms in the North West were at risk. But by the end of 1995 the figure had risen to 26 per cent.
"Obviously not all will fail, but our research shows that a significant number will, making it vitally important for companies to satisfy themselves of the financial stability of the companies they do business with," said David Coates, managing director of CCN Business Information.
"The most fundamental question any supplier of goods, services or finance has to ask about a company, is whether it will still be around to pay its invoices or repay a loan."
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