The number of companies falling into insolvency in England and Wales last year surged to its highest since 2009, according to Government figures.
Total company insolvencies registered in 2022 leapt by 57% to 22,109 from the previous year, new data from the Insolvency Service revealed.
Experts said the rise was partly driven by the end of coronavirus support measures by the Government to support firms during the pandemic as well as weaker consumer demand.
The increase was also partially linked to the higher number of companies operating in total during the year.
The Insolvency Service reported the rise was driven by the highest number of Creditors Voluntary Liquidations since records began in 1960.
Creditors Voluntary Liquidations are…
Read the full article at: https://www.times-series.co.uk/news/national/23289354.business-insolvencies-jump-57-13-year-high/