Bankruptcies Increase
(Special Crspdt. N.Z.P.A.) LONDON, June 12
More people went bankrupt in Britain last year than for many years.
The Board of Trade reported there were 4145 bankrupts in 1962, 624 more than in 1961 and twice the number in 1952. The main reason for the increase was said to be trade recession which followed the credit squeeze. Bankrupts’ debts totalled £14,449,000 last year, an average of £3486 each. The average payment was £765 each, which was enough to pay creditors only 4s 3d in the £.
Builders (388) and road transport contractors (258) headed the list of .bankrupts: then came farmers, grocers, hardware and electrical shopkeepers.
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Press, Volume CII, Issue 30156, 13 June 1963, Page 17
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107Bankruptcies Increase Press, Volume CII, Issue 30156, 13 June 1963, Page 17
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