UK on track for most company insolvencies since 2009 – Reuters

LONDON, July 18 (Reuters) – England and Wales are on track for the highest quarterly number of company insolvencies since early 2009, as businesses struggle to repay COVID-19 loans against a tough economic backdrop, government figures showed on Tuesday.

The Insolvency Service, a government agency, said 2,163 companies were declared insolvent in June, up 27% on a year earlier although down from May’s 2,553, which was the highest since monthly records began in January 2019.

Over the three months to the end of June, there were 6,403 companies declared insolvent. If this figure is confirmed when official quarterly numbers are published later this month, it would be the highest non-seasonally-adjusted calendar-quarter total since the first qua…

Read the full article at: https://www.reuters.com/world/uk/uk-track-most-company-insolvencies-since-2009-2023-07-18/