The state of the UK economy Insolvency rates could exceed 1990 levels. An estimated 35,000 businesses may enter administration over the next 12 months.
While debate continues as to whether the UK has been in a technical recession, it is clear that the national economy has at least been stagnant for the last two years. With household spending power having been crippled by heightened inflation and repressed wage growth, consumers have been unable to support many businesses at a crucial time, where firms have been trying to repay pandemic-era debts.
As a result, the cost-of-living crisis continues to impact corporate Britain fiercely, with insolvency appointments soaring to their highest levels for over thirty years. According to new resear…
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