ompulsory liquidations in November 2022 rocketed to more than five times as many as last year and were 7% higher than in November 2019, new figures released today show, as small and medium-sized businesses feel the pressure of rising prices, higher interest rates and dwindling consumer demand.
The number of registered company insolvencies in November 2022 was 2,029, 21% higher than in the same month in the previous year, and 35% higher than 2019, according to data released by the Insolvency Service this morning, while debt relief orders grew 10% on last year to 2,269.
David Kelly, Head of Insolvency at PwC said: This is a sobering reminder that rising interest rates, energy costs and supply chain issues are starting to bite as we he…
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