The number of corporate insolvencies across the North East and Yorkshire fell in the third quarter of 2023, new research has found, despite economic uncertainty continuing to impact businesses.
Analysis of notices in The Gazette by Interpath Advisory found that 44 companies based in the regions fell into administration in Q3 23, down from 49 in Q3 22.
This is in contrast to the UK picture, which saw 330 companies enter administration, up from 276 on the prior year.
The figure suggests that UK insolvency activity has returned to pre-pandemic levels, following record lows in 2020 and 2021.
James Lumb, managing director and head of Interpath’s…
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