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50k firms go to wall.

NEARLY 50,000 businesses will go bust in the next three years, a gloomy survey predicts.

More than 300 firms fold each week, but experts warn the number is set to rise as Britain's economy slows down.

Shay Bannon, of business consultants BDO, blamed spiralling energy prices, the cooling housing market and lower High Street spending.

He said: "Businesses in most sectors will encounter a more difficult economic environment over the next 18 months.

It is feared around 7,000 manufacturers will go to the wall by the end of 2007.
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Publication:The Mirror (London, England)
Date:Sep 19, 2005
Words:91
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