A survey by accountants BDO Stoy Hayward predicts the more than 36,000, or one in every 56 companies, will fail - a 59 per cent increase on 2008.
However, it added that the worse is yet to come, with one in 50 firms failing in 2010, and the real estate and construction sectors being hit hardest.
Dermot Power, business restructuring partner at BDO Stoy Hayward in Manchester, said: "Business failures are set to worsen before any improvement is seen. UK companies, however, are tightening their belts and taking more measures to adapt to the downturn.
"The government is also increasing its initiatives to kick-start the economy, and both should have an effect.
"However, because of the uncertainty on how long it will take for an upturn to emerge, for some surviving tomorrow will not be possible."
Source: MEN
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