Decline in insolvencies

DTI figures indicate that the number of insolvenciesin Q3 declined, although the size of insolventbusinesses had increased. Meanwhile, GrantThornton Services Sector Survey has indicated thatconsumer services firms such as hotels andrestaurants are the worst hit in the services sector,with respondents anticipating the worst fall inprofitability in four years for Q42002. Business support services experienced flatgrowth in Q3 and do not forecast a rapidimprovement. The hardest hit business servicesfirms are employment agencies and property supportservices.technology spending. On the back-end, they areconcerned about sobering valuations and illiquidity.Both sets of concerns are resulting in an increasinglycautious venture community.’ All major industriesexperienced declines, and expansion stagecompanies continue to receive the most venturecapital.Restructuring at Charles RussellCharles Russell Solicitors has undertaken

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