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The number of firms falling into insolvency in England and Wales surged to the highest level for 14 years in the past quarter, according to Government figures.
Insolvency Service data revealed that there were 6,342 company insolvencies over the three months to June 2023.
It was a 13% increase against the same period last year and represented the highest figure since the second quarter of 2009 amid the toll of the financial crisis.
Firms in England and Wales have come under heavy pressure from higher energy bills, increased labour costs and a sharp increase in borrowing costs after hikes to interest r…
Read the full article at: https://www.independent.co.uk/money/company-insolvencies-in-england-and-wales-jump-to-14year-high-b2383683.html