Corporate insolvencies were up almost 14 per cent in 2023 a trend which is likely to continue through the coming months unless the economic picture improves, according to trade body R3.
New data from the governments Insolvency Service has shown 25,158 seasonally adjusted corporate insolvencies last year.
Promisingly though, personal insolvencies for 2023 were down 12.9 per cent on 2022 figures at 103,454, and even lower than pre-pandemic levels in 2019.
Neil Stewart, chair of R3s Southern and Thames Valley, remains cautiously optimistic that the landscape will improve.
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The last year has seen a rising tide of corporate insolvencies, he said.
A combinat…
Read the full article at: https://thebusinessmagazine.co.uk/corporate-finance/south-east-insolvencies-likely-to-remain-high-this-year-says-r3/