Bankruptcies Increase

Press, Volume CVII, Issue 31463, 1 September 1967, Page 12

Bankruptcies Increase

Bankruptcies this year to the end of August have increased more than 50 per cent over figures for the same period last year. There have been already 58 bankruptcies filed this year. For the whole of last year there were exactly the same number. The corresponding figure to the end of August last year was 37, the Official Assignee (Mr T. A. F. Withers) said yesterday. In 1965 there were only 14 bankruptcies filed at the end of August.

The bankruptcies fell into no neat pattern, said Mr Withers. In May this year there were eight; last year, four; in June this year nine; last year, eight; in July this year 13, last year three. In August this year only four bankruptcies were filed; seven were filed in August last year.

August Drop At the end of July this year there had been an increase of almost 100 per cent on last year’s figures but during August the numbers had dropped sharply, he said. There had been three bankruptcies in family businesses in the last two months; these were the first of that type for several years. There were no figures available of the total amount owed to creditors, but individual amounts owing were no greater than in previous years. The bankruptcy files showed that nine persons working on their own account have filed petitions of bankruptcy this year.

Several housewives had also filed bankruptcy notices. The majority of bankrupts were labourers.