The number of corporate insolvencies in England and Wales last month was 76% higher than before the pandemic.
Figures released by the Insolvency Service reveal there were 1,964 company insolvencies in December 32% higher than the previous year and 76% higher than the 1,119 registered in December 2019.
Christina Fitzgerald, president of insolvency and restructuring trade body R3, said company directors are very concerned about the effects of energy and staff costs, as well as fears about how the cost-of-living crisis will impact on their income this year.
Insolvency numbers stayed low during the pandemic owing to the governments 154bn package of financial support for businesses, as well as temporary measures that helped companies restruc…
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