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Insolvency: Hotels

Volume 485: debated on Wednesday 10 December 2008

To ask the Minister of State, Department for Business, Enterprise and Regulatory Reform what estimate his Department has made of the number of (a) hotels and (b) bed and breakfast establishments that have declared themselves insolvent since 2003; and if he will make a statement. (240335)

Statistics are only available for “Hotels” and only available from Q3 2007 on a consistent basis. The following table records the number of “hotels” that have entered into an insolvency procedure in each quarter since 2007 Q3 in England and Wales.

20072008

Insolvency procedure

Q3

Q4

Q1

Q2

Q3

Compulsory Liquidations

6

8

7

12

n/a

Creditors’ Voluntary Liquidation

10

8

3

11

13

Receiverships

2

1

3

2

0

Administration

0

4

8

5

2

Company Voluntary Arrangements

0

0

1

3

1

Bankruptcy Orders for self-employed individuals

7

11

14

6

n/a

Notes:

1. The business activity of an insolvent company or small trader is classified according to Standard Industrial Classification 2003 (SIC2003). This does not separately identify bed and breakfast establishments, but it is likely that some of these will be included under "Hotels" and others under a different SIC Group.

2. There have been changes over recent years to the classification and extent of sectoral information collected and analysed. Consistent data are only readily available on a quarterly basis from 2007 Q3.

3. Companies may enter consecutively into more than one type of insolvency procedure. For example, an establishment may enter into Administration, but subsequently become the subject of a Creditors’ Voluntary Liquidation. This means that counts should not be summed to a total number of company insolvencies in the sector.

4. Data for Compulsory Liquidations and for self-employed bankruptcies for 2008 Q3 are not yet available.