Company insolvencies up 16% on July last year as cost hikes continue to bite
The number of companies that became insolvent in July was 16% higher than during the same period last year, according to official data.
In England and Wales, 2,191 businesses went bust, according to the Insolvency Service, compared with 1,890 in July 2023.
The figures included 320 compulsory liquidations – when a company is forced to shut down, usually because it has debts it cannot pay – which is the highest monthly number since before the Covid-19 pandemic.
Fiat Panda is axed in the UK
Fiat has discontinued its current Panda model after a 12-year run.
The Panda, which is one of the smallest cars in the Italian firm’s range, has continued to be one of…
