The South West’s head for the insolvency and restructuring trade body R3 has responded to the latest insolvency figures for England and Wales and shared key advice to Gloucestershire businesses that could help to head off the risk of bankruptcy.
With corporate insolvencies increasing by 37.7% in March 2023 compared to February and rising by 15.9% compared to March 2022’s figure, R3 has pointed out that corporate insolvencies have now risen by 145.9% from March 2021 and by 99.3% from March 2020.
Corporate insolvencies, said the trade body, also increased by 55.4% compared to pre-pandemic levels in March 2019, while personal insolvencies increased by 38.9% in March 2023 compared to February’s total of 8,237.
Charlotte May, South West C…
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