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(Bloomberg) England and Wales recorded fewer insolvencies in April than a year earlier, indicating the number of failing businesses may be starting to stabilize.
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A total of 1,685 firms went bust last month, a drop of 15% compared with April 2022, according to the Governments Insolvency Service. But that followed a 16% surge in March to 2,471, the highest number since monthly data began in 2019, as businesses were squeezed by the cost-of-living crisis.
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While Aprils figure is lower than a year ago, when businesses were reeling from the withdrawal of Covid support, it is still higher than pre-pandemic levels.
And there were 183 compulsory liquidations, those initiated by creditors and or…
Read the full article at: https://financialpost.com/pmn/business-pmn/uk-insolvencies-fall-in-brief-respite-for-struggling-firms