October corporate closures jump

The figure was 33% higher than in the same month last year and 16% more than the previous month, Pongpan Jiarawiriyapan, director general of the Department of Business Development, said on Tuesday. The sharp increase in October was due to changes in lottery retail trade where rules had been tightened and the quota system scrapped, causing many small firms to shut down, said Mr Pongpan.