Continuing high levels of corporate insolvencies in England and Wales indicate a sense of ‘stable stress’ across the local economy, with latest figures highlighting only a marginal decrease in numbers.
This is according to the Midlands branch of the UK’s restructuring, turnaround and insolvency trade body R3 and comes on the back of new statistics published by the Insolvency Service which show that corporate insolvencies decreased by 2% in September to a total of 2,000 compared to the previous month. There was also a marginal fall in August of 1.7% against July’s total of 2,083.
R3 Midlands chair Stephen Rome, a partner at law firm Penningtons Manches Cooper in the region, said: “We may be seeing some small decreases in…