The region’s transport and haulage industry is continuing to show good signs of recovery and outperforming many other areas across the UK.
New research by R3, the insolvency trade body, revealed the proportion of Yorkshire transport and haulage companies at higher than normal risk of insolvency fell by 2.96 per cent this month – whereas the UK-wide sector figure rose by 0.98 per cent.
For August 2015, Yorkshire was among the top performing regions, with only 26 per cent of businesses in the region having a higher than normal risk of insolvency, compared with 30 per cent in the North West and 33 per cent nationally. Of the 3,691 active transport and haulage companies in Yorkshire, only 975 are now identified as being at higher than normal risk. These latest figures put Yorkshire’s transport and haulage businesses fourth across the regions in terms of risk of insolvency, the only others at lower risk are the North East, Northern Ireland and the South West. Gareth Self, Yorkshire R3 committee member and insolvency practitioner at the Sheffield-based P&A Group of Companies, said the figures showed “positive signs” in the region’s economic recovery.