UK Braces for Highest Corporate Insolvencies Since 2004: PwC Report
According to predictions by PricewaterhouseCoopers (PwC), the United Kingdom is bracing for a sharp increase in business insolvencies, with nearly 30,000 entities anticipated to fail in the next 12 months. This projection marks an alarming 15% surge, taking corporate insolvencies to their highest level since 2004. The forecast raises concerns about the UKs financial stability amidst slow economic growth and high energy costs.
The Epicentre of Insolvency Risk
Small businesses, particularly those in the hotel, catering, manufacturing, transport, and storage sectors, are identified as the most vulnerable. These sectors are grappling with the combined impact of high intere…
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