Nearly 2,000 companies entered insolvency processes in August, according to official figures, as firms grappled with falling sales and mounting financial pressures.
Nick Cusack, an insolvency practitioner at Azets – a UK top 10 accountancy and advisory firm with six offices across East Anglia – said the challenges contributed to the number of corporate insolvencies reaching 1,946 in August, a four-month high according to Insolvency Service figures.
Monthly company insolvencies by type, England and Wales, August 2021 to August 2026 (Image: Insolvency Service/Companies House)
More than 250 connected companies in the real estate sector entered administration between March and August.
“August also saw an uptick in…