The number of corporate insolvencies edged up last year as businesses battled against headwinds including rising costs and shaky consumer confidence.
Underlying corporate failures in England and Wales rose by 2.5 per cent in 2017 compared with the previous year, figures from the Insolvency Service show. This was after the impact of a series of bulk insolvencies related to a crackdown on personal service companies, which are used to reduce contractors tax bills, was stripped out.
Duncan Swift, deputy vice-president of R3, the insolvency trade body, said that the increase was a reflection of the difficult year that firms have been through.
He added: Once exceptional events have been stripped out, there has been a small upwards trend in ins…
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