More companies in England and Wales went bankrupt in March than at any point since monthly records began three years ago.
With businesses struggling with rising bills, higher interest rates and a stagnant economy, the Insolvency Service said the number of corporate insolvencies jumped to 2,457 last month, up 16% on a year earlier and up from 1,784 in February.
The rise also represented a 55% leap compared with pre-pandemic levels in March 2019, when 1,581 companies went bust.
Insolvency experts said the rate of company collapses was likely to keep rising during the year as more businesses throw in the towel amid stubbornly high inflation and rising interest rates.
In Cardiff, Louise OLeary, who owns and runs the Frolics Cafe on the citys out…
Read the full article at: https://www.theguardian.com/business/2023/apr/18/monthly-insolvencies-england-wales-march-hit-three-year-high