The North East branch of R3, the UK’s restructuring, turnaround, and insolvency trade body, says the recent improvement is welcome but warns that business leaders remain cautious amid ongoing economic uncertainty.
New figures from the Insolvency Service show corporate insolvencies in England and Wales dropped by 1.7 per cent in August to 2,048, down from 2,083 in July.
Kelly Jordan, North East chair of R3 and a partner at Muckle LLP, said: “Corporate insolvencies may have decreased slightly in August, but we have a trend which shows continued high numbers of formal insolvencies, albeit way off the peaks of 2023 when pandemic-era problems unwound.
“While any drop in insolvency numbers is a welcome piece of news for…