The latest insolvency data for England and Wales has landed and according to R3, which is the trade body for the insolvency and restructuring sector, the headlines could be interpreted as positive news.
However, deeper analysis of personal and corporate casualties, R3 suggest, points to concern against a backdrop of cost pressures amid the cost of living crisis.
Corporate insolvencies increased by 5% in January 2024, to a total of 1,769. Compared to January 2023’s 1,685 corporate insolvencies, that’s a marked fall from the 7.5% recorded back then.
But while personal insolvencies remain 17% below the rate recorded in January 2019 (before the Pandemic took its toll), they showed as increase of 4.3% for the opening month of 2024 – to a …
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