The latest corporate insolvency figures released by the UK government reveal the countrys food and beverage sector is struggling to cope with multiple headwinds.
There were 2,457 UK companies declared insolvent last month, up 16% from March 2022, as well as 288 compulsory liquidations, double the figure from a year earlier.
In sector-specific information, supplied up until February, the number of corporate insolvencies in the food production sector in England and Wales nearly tripled to 173 over 12 months, from 64 in the previous period.
The sectors increase was the biggest among major industries.
Insolvencies in the beverage manufacturing sector jumped 136% to 66 in the same period…
Read the full article at: https://www.just-food.com/news/uk-food-and-drink-companies-to-the-fore-as-insolvencies-surge/