Company insolvencies leapt 19.3 per cent in the third quarter compared to the same quarter last year.
Data from the Insolvency Service shows company insolvencies increased 8.9 per cent in the quarter to the end of September compared to the previous quarter.
A total of 4,308 companies entered insolvency in the third quarter, with 3,083 (71.6 per cent) of those creditors voluntary liquidations.
A creditors voluntary liquidations is instigated by an insolvent company, its assets are sold, the proceeds are distributed to creditors and the company is dissolved.
Duncan Swift, vice president of insolvency and restructuring trade body R3, said: This is the first time weve seen more than 4,000 corporate insolvencies in one quarter since the star…
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