The number of companies collapsing into administration jumped by nearly a third last month, official figures have shown, as fears mount that cost pressures from the Iran war could push more firms to the brink.
The Insolvency Service said company administrations rose 30% year-on-year in February to 146, maintaining high levels seen in January when 152 firms called in administrators.
Overall, company insolvencies across the board were 7% higher when compared with January, at 1,878, but were 7% lower on an annual basis.
For companies already operating on tight margins, rising costs and uncertainty could quickly translate into further financial…