Businesses from across the region could still be impacted by a number of recent economic headwinds, including rising interest rates, according to the North East chair of insolvency and restructuring trade body R3, despite a drop in the number of insolvency related activities.
The latest Insolvency Service statistics unveiled a month-on-month drop of almost a third from 2,471 cases in March down to 1,685 cases last month.
Despite this, the figure is still 82 per cent higher than for the same month last year, and up 18 per cent on the figure for April 2019.
The statistics also showed that firms being put into liquidation through Creditors Voluntary Liquidations (CVLs) remain at their highest level in more than six decades…
Read the full article at: https://www.insidermedia.com/news/north-east/businesses-yet-to-see-the-real-impact-of-rising-rates-r3