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IN BRIEF : Business Failures Rise in 4 States

December 15, 1988|United Press International

NEW YORK — Bucking a national trend, business failures increased in Arizona, Nevada, Hawaii and Utah during the first nine months of the year, according to a report released today by Dun & Bradstreet Corp.

In California, where the number of shuttered businesses declined during the period, the national trend was upheld, Dun & Bradstreet said.

Nationwide, the number of shuttered businesses declined 6.3% from the year-earlier period, the company said.

In California, the number of failed businesses during the period declined 6.7% to 7,167 from 7,681.

"California has been among the best overall performers during this expansion," said Joseph W. Duncan, chief statistician for Dun & Bradstreet.

In Arizona, the number of failed businesses increased 80.5% during the nine-month period to 1,076 from 596 during the same period last year.

Failed businesses in Nevada increased 24.9% to 261 from 209. In Hawaii the number of closed businesses increased 7.9% from 139 last year to 150 during the first nine months this year.

In Utah, the number of failed businesses increased 4.8% to 463 from 442 during the first nine months of last year.

Duncan attributed the increase in business failures in Arizona, Nevada, Hawaii and Utah to high levels of entrepreneurial activity in recent years.

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