Simon Edel, UK Turnaround and Restructuring Strategy Partner at EY-Parthenon:
“Today’s insolvency figures illustrates how the challenging trading conditions facing UK companies is translating into distress. Company insolvencies in Q2 and Q3 2023 reached their highest level since Q2 2009, whilst administrations saw a 58% year-on-year uplift.
“Since the pandemic, insolvency activity had been heavily focused among smaller companies, but we are now seeing increased activity in the mid-market as macro-economic and financing stresses build.
“These mid-market companies – whose balance sheets had previously been cushioned by extended maturities and COVID-19 support measures – are now facing several…
