West Midlands businesses are being urged to take swift action if their finances are under pressure after new Government figures reveal corporate insolvencies have hit their third highest monthly total since the start of the pandemic.
The warning comes from insolvency and restructuring body R3 and follows statistics published by the Insolvency Service which show that corporate insolvencies in England and Wales increased by 19% to 1,207 in June 2021 compared to Mays figure of 1,014, and rose 62.9% compared to June 2020s figure of 741.
R3 Midlands chair Eddie Williams, a partner at PwC in the region, said: The surge in corporate insolvencies between May and…
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