There has been a surge in the number of people seeking breathing space from their debts while corporate insolvencies are running at levels not seen for 13 years, according to official figures.
The Insolvency Service data covering England and Wales during the second quarter of the year showed 6,342 companies were registered as insolvent in the three months to the end of June, 13% more than a year earlier.
The body said it was the highest number since the second quarter of 2009.
The number of creditors’ voluntary liquidations (CVLs), a process by which directors of a company can voluntarily close down an insolvent business, stood at 5,240 – the highest figure for a quarter since records began.
The data reflects growing concerns on the im…
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