Company insolvencies in England and Wales jumped 40 per cent in the year to May, fresh government data reveals.
Some 2,552 companies were declared insolvent in May, up from 1,825 a year ago and the highest level since records began in January 2019, according to the Insolvency Service.
They also increased from the previous month, when 1,688 insolvencies were registered, with experts expecting them to climb further as businesses face higher costs of servicing debts due to rising interest rates.
Insolvencies on the rise: Experts expect them to climb further as businesses face higher costs of servicing debts due to rising interest rates
The number of insolvencies was higher than levels seen while the Government support measures were …
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