LONDON, Dec 14 (Reuters) – England and Wales saw a 21% annual rise in the number of company insolvencies last month and the second-highest monthly total in figures going back to 2019, published a day after the Bank of England said businesses were coming under increased pressure.
Some 2,029 registered companies in England and Wales were declared insolvent in November, second only to the number in March, when pandemic-related protections against court orders ended.
The Insolvency Service, the government agency which published the data, said November’s increase partly reflected more winding-up petitions from tax authorities as well as 95 compulsory liquidations requested by a single, unidentified bank.
“Rising interest rates, energy costs and…
Read the full article at: https://www.reuters.com/markets/europe/england-wales-see-21-annual-rise-company-insolvencies-november-2022-12-14/