Simon Edel, UK Turnaround and Restructuring Strategy Partner at EY-Parthenon: “Company insolvencies in 2023 reached their highest annual total in 30 years reflecting the difficult business environment that companies have faced over the last 12 months. The final quarter of 2023 also saw the highest quarterly number of Creditors Voluntary Liquidations (CVLs) since this data started to be recorded in 1960.
“Whilst the uptick in insolvencies has been largely driven by smaller businesses and CVLs, we are now starting to see stress spread to some mid-market and larger companies, many of which are facing refinancing hurdles as well as ongoing inflationary challenges.
“According to EY-Parthenon’s latest Profit…
