Company bosses have been hit by a host of problems – from soaring costs and higher borrowing rates to cash-strapped customers.
Alistair Bacon, chairman of regional insolvency trade body R3 Eastern and founder of AMB Law in Ipswich, said the challenges were taking their toll as the number of insolvent businesses in England Wales hits a four-year high.
Company directors have been heavily affected by a mixture of long-term economic issues, director fatigue and creditor pressure, he said.
Corporate insolvencies rose month-on-month by 33.6% in August to 2,308 compared to 1,728 in July, and by 18.9% from 1,941 a year ago, Insolvency Service figures show.
The figures also revealed a rise of 71.3% compared to August 2021s total of 1,347, and by…
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