Member Article
The year-on-year level of corporate insolvency has risen for a third consecutive month, highlighting the continuing impact of the pandemic on North East businesses.
The latest corporate insolvency figures for England and Wales reveal a 70.4% increase in Creditors Voluntary Liquidations in July compared to July 2020, suggesting an increasing number of directors have decided to close their businesses as a result of the challenging conditions created by the pandemic.
While corporate insolvencies fell by 9.3% month-on-month in July 2021, to 1,094 compared to Junes figure of 1,206, they increased year on year by 13.4% compared to July 2020s figure of 965.
Alexandra Withers, North East chair of insolvency and restructuring tra…
Read the full article at: https://bdaily.co.uk/articles/2021/08/26/year-on-year-corporate-insolvency-figures-rise-for-third-consecutive-month
