Company insolvencies jump 27% as high interest rates hit economy; UK grocery price inflation dips as it happened – The Guardian

Company insolvencies in England and Wales have jumped, as firms are hit by a slow-growing economy and high interest rates.

There were 2,163 registered company insolvencies in June, the Insolvency Service reports.

That is 27% higher than in the same month in the previous year 1,698 firms filed for insolvency in June 2022.

It is higher than levels seen while the Government support measures were in place in response to the Covid-19 pandemic and also higher than pre-pandemic numbers.

But it is a drop on May, when 2,553 insolvencies were reported a 40% year-on-year surge.