Corporate insolvencies increased by nearly 14% during 2023 and are likely to remain high this year unless the economic picture improves, according to R3, the UKs insolvency and restructuring trade body.
R3 regional head Neil Stewart, responding to the publication of the 2023 annual corporate and personal insolvency statistics for England and Wales, is cautiously optimistic that the landscape will improve this year, despite last years difficulties.
Just published Insolvency Service figures reveal there were 25,158 seasonally adjusted corporate insolvencies in 2023 an increase of 13.7% from 2022s figure of 22,123,
This was also an increase of 78.9% on 2021s figure of 14,059 and an increase of 46.6% on pre-pandemic figures in 2019 (17,163)…
Read the full article at: https://rdg.today/rising-tide-of-corporate-insolvencies-set-to-continue/