Political issues at both national and global level have impacted heavily on local businesses as the prospect of higher employment costs and the threat of trade tariffs across England and Wales pushed up corporate insolvencies by almost a tenth in March.
This is according to the Midlands branch of the UK’s insolvency and restructuring trade body R3 and comes on the back of latest figures from the Insolvency Service which show that corporate insolvencies increased by 9.1% last month [March] to a total of 1,992 compared to March 2024’s figure of 1,826.
R3 Midlands chair Stephen Rome, a partner at local law firm Penningtons Manches Cooper, said: “Longstanding challenging trading conditions and the increased willingness of public and…
