According to the latest government statistics, the number of registered company insolvencies across the UK has decreased to 23,872, reflecting a reduction of 5% compared to 2023.
Stephen Goderski, Partner at restructuring and insolvency firm PKF Littlejohn Advisory, notes that while a decline in insolvencies is welcome news, businesses are not out of the woods yet.
He states: “A reduction in insolvencies is encouraging, but the real challenge is what lies ahead. With national insurance contributions set to rise in April, businesses will see their payroll costs increase, putting further strain on cash flow at a time when many are already stretched. The question is whether the government’s economic strategy will provide the…