Insolvency numbers are likely to remain at record levels until well into next year, one practitioner says.
Keaton Pronk, an insolvency practitioner at McDonald Vague, said corporate insolvency appointments were at historically elevated levels in August, at 274 in the month.
He said there were 2099 appointments in the year so far, putting it on track to be the highest number since the global financial crisis.
“The figures suggest that business failures are no longer simply returning to normal levels following the pandemic-era suppression of insolvencies but are instead reflecting a prolonged period of financial stress across a range of sectors and regions.”
Pronk said liquidation appointments were 88 percent of August insolvencies.
Insolvent…