The number of insolvent businesses in England and Wales has risen by over a third (33.6%) to hit a four-year high, with company directors heavily impacted by a mixture of long-term economic issues, director fatigue and creditor pressure.
This is according to the Midlands branch of insolvency and restructuring body R3 and follows latest statistics published by the Insolvency Service which show that corporate insolvencies rose by 33.6% in August to 2,308 compared to Julys total of 1,728, and by 18.9% in comparison with August 2022s figure of 1,941.
The government statistics also show that corporate insolvencies in England and Wales increased by 71.3% against August 2021s total of 1,347, and by 69.1% compared to the pre-pandemic level of 1,…
Read the full article at: https://www.eastmidlandsbusinesslink.co.uk/mag/finance/corporate-insolvencies-hit-four-year-high/