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LONDON (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 wer…
Read the full article at: https://www.saltwire.com/newfoundland-labrador/business/uk-on-track-for-most-company-insolvencies-since-2009-100874485/