CORPORATE insolvency numbers show no signs of abating in the region as more than 193 companies became insolvent in the first quarter of 2009, new research has revealed.

The findings from Pricewaterhouse Coopers (PwC) show that the number has increased five per cent on the last quarter of 2008, and has leapt 44 per cent year-onyear in the North-East and Cumbria.

Of the 193 insolvent companies, 34 were in construction, 28 in business services, 24 in retail, 15 in manufacturing, 11 in transport and logistics and nine restaurants.

Nationally, 5,483 companies became insolvent in the first quarter, up 57 per cent on the same period in 2008.

Sean Hamilton, director in the business recovery services practice at PwC in Newcastle, said: “We can see that businesses in the region are still suffering from the effects of the global recession as more and more of them enter into insolvency with no apparent signs of a slowdown in the near future.

“At PwC in Newcastle we are currently working with businesses across the region, in many sectors and of varying sizes.

“Unfortunately we still find that many companies are leaving it too late to ask for help.”