he number of UK firms entering insolvency jumped last month as businesses came under pressure from higher borrowing costs and waning consumer demand.
Official figures from the Insolvency Service revealed that 2,163 insolvencies took place in June.
It said this represented a 27% jump against the same month last year and put the UK on track for the worst quarter for company failures since 2009.
However, this was a monthly reduction after 2,552 company insolvencies were registered in May.
The new data showed that the vast amount of collapses were creditors voluntary liquidations, in which bosses choose to fold their firms. There were 11,759 for June, reflecting a 21% increase year-on-year.
Meanwhile, compulsory liquidat…
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