Member Article

‘One Step Forward, One Step Back’ For North East Firms As Insolvency Figures Stay High

North East business owners could be taking one-step forward, one-step back through the rest of the year as the full impact of recent economic shockwaves work their way through the system.

Thats the view of the North East chair of insolvency and restructuring trade body R3, Chris Ferguson, after the latest official figures showed that corporate insolvency levels for England and Wales are still substantially higher than they were before the pandemic.

While the latest Insolvency Service statistics have revealed a month-on-month drop of almost a third, from 2,471 cases in March down to 1,685 cases last month, the April 2023 corporate insol…

Read the full article at: https://bdaily.co.uk/articles/2023/05/25/one-step-forward-one-step-back-for-north-east-firms-as-insolvency-figures-stay-high