The number of firms going bust in England and Wales has jumped yet again as the higher-for-longer interest rate environment continues to put pressure on businesses and consumers.
Monthly data from the Insolvency Service showed there were 2,315 insolvencies among registered companies in October, up 18 per cent from last October when there was 1,954.
Around 82 per cent (1,889) of last months insolvencies were creditors voluntary liquidations (CVLs), where an insolvent companys directors choose to wind up.
There were an additional 256 compulsory liquidations, 146 administrations, 23 company voluntary arrangements and one re…
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