The number of county court judgements (CCJs) issued to businesses has risen for the first time in eight years, according to figures released this afternoon.
Some 24,698 CCJs were issued in the third quarter of 2017, up a whopping 27 per cent on the previous year. This bucks a downward trend stretching back to the noughties, the Registry Trust Limited said.
Incorporated companies bore the brunt of the jump with 16,479 CCJs issued to them in the three months to September, a figure that was up 40 per cent. Unincorporated companies were up eight per cent at 8,219.
The total value of CCJs issued during the quarter rose a more modest 13 per cent £80.5m. It is the first time there has been a monetary increase since 2011.
The change in fortunes for businesses contrasts with that for consumers, where there has been a general increase in the number of CCJs issued over the last five years.
Nevertheless, consumer CCJ's rose by 24 per cent in the third quarter to 317,793 with an associated value of £467.9m.
Across businesses and consumers, the average value of CCJs fell, indicating that increasing numbers of CCJs are being issued for lower amounts.