Company insolvencies across England and Wales were up 10% in the last quarter compared to the same period last year, according to official figures as a separate report warns of a leap in financial distress.
The Insolvency Service reported 6,208 registered company insolvencies between July and September.
That was 2% down on the previous three months’ 14-year high but still close to levels seen after the 2008 financial crisis.
“The last two quarters saw the highest quarterly insolvency numbers since Q2 2009,” the report said.
The wider figures showed a leap in the number of firms throwing in the towel, as creditor voluntary liquidations hit the highest levels since records began in 1960.
However, much of that has been attributed by exp…
Read the full article at: https://news.sky.com/story/company-insolvencies-rise-10-amid-warnings-of-growing-distress-12997070