Weak consumer demand, pressure on household budgets and a range of economic uncertainties have all contributed to a ten per cent year-on-year rise in corporate insolvencies across the UK.
New figures from the Insolvency Service have revealed that, excluding bulk insolvencies, 16,090 businesses entered insolvency in 2018, the highest recorded annual figure since 2014.
And Andrew Haslam, North East chair of insolvency and restructuring body R3, believes that a further rise is likely to follow this year in the light of prevailing economic challenges.
Research by R3 found that the proportion of North East firms across all business sectors with a raised risk of entering insolvency in the next 12 months rose from 35% in January 2018 to 42% t…
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