The number of companies filing for administration across the Midlands jumped by 60% in 2022 as rising inflation and weaker trade continues to put businesses under pressure.
Analysis of notices in The Gazette by Interpath Advisory reveals that a total of 120 companies based in the Midlands fell into administration in 2022 up from 75 companies in 2021. This represents a 60% increase on last year, but is still well below pre-pandemic levels (2019: 173 and 2018: 190).
This mirrors the UK picture which saw a total of 1,039 companies fall into administration in 2022 up from 710 companies in 2021, but is also not yet back at pre-pandemic levels of 1,422 in 2019 and 1,337 in 2018.
Chris Pole, managing director and head of Interpaths Midlands …
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