Rising costs and ongoing economic and political uncertainty are continuing to drive corporate insolvencies upward, while an increasing number of local entrepreneurs are seeking insolvency and restructuring advice and considering the future of their businesses.
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 in England and Wales increased by 2.9% last month [April] to a total of 2,053 and by 13.2% compared to April 2023’s figure of 1,813.
R3 Midlands chair Stephen Rome, a partner at law firm Penningtons Manches Cooper in the region, said: “April’s corporate insolvency figures…
