Company failures in England and Wales rose 27 per cent last month and by 51 per cent in Scotland as growing numbers of businesses succumbed to rising inflation and a stagnant economy.
Corporate insolvencies in June hit 2,163, sharply up from 1,698 in the same month last year, according to Insolvency Service data.
In total, 6,403 companies were declared insolvent in the three months to the end of June, the highest failure rate since 2009, while compulsory liquidations rose 77 per cent to 260 for the month after a surge in winding-up petitions presented by HM Revenue and Customs.
There were also 130 administrations, up 44 per cent on the same month last year.
Scotland recorded 113 insolvencies in June, 51 per cent up on June 2022. There …
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