Workers who lost their jobs when clothing company Lane Walker Rudkin went in to receivership in April have been given another chunk of their redundancy entitlements.

The receivers, Stephen Tubbs and Brian Mayo-Smith of BDO Spicers, today announced a second payment to redundant staff, bringing the total amount paid to about 55% of the money owed.

The first payment was made in late April just after the receivership was announced.

Business is humming for insolvency experts who say a surge in receiverships and liquidations is coming close to levels last seen in the late 1980s.

But BDO Spicers’ partner Stephen Tubbs says the issues for today’s troubled companies are quite different from the problems of 1987.

“A lot of the issues at the moment basically involve the consequences of easy credit,” he says. “Most of the excesses that have been entered into [by companies] have been brought into sharp focus as the banks are basically reining things in.”