In the same month last year, the figure was only 1,801 while in February 2019 there were only 1,213 company insolvencies. This months figures were higher than levels seen while the government support measures were in place in response to the pandemic and were significantly higher than pre-pandemic numbers.
There were 217 compulsory liquidations, which was 35% higher than February 2023, while the number of administrations was concerning at 166, up 54% on the same time last year.
Julie Palmer, partner at Begbies Traynor, said: The fact that more businesses failed in February this year than in the same month during or before the pandemic paints an unhappy picture for the state of the UK economy.
This environment is putting a huge amount of …
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