Ongoing economic and geopolitical issues have pushed corporate insolvencies to a 2025 high, while rising numbers of local businesses are facing another tough month as a result of spiralling costs of materials, staff and energy as well as a rate of inflation above the Bank of England target.
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 15% last month [May] to a total of 2,238 compared to May 2024’s figure of 1,946, and by 7.9% compared to April 2025’s figure of 2,074.
R3 Midlands chair Stephen Rome, a partner at law firm Penningtons Manches…