Insolvencies and restructuring activity are expected to increase in early 2025 as businesses struggle with rising cost pressures, industry experts have warned.
Surging business costs associated with the autumn Budget are predicted to hit sectors such as hospitality particularly hard.
The warning comes as official data revealed a 13% monthly rise in company insolvencies in November, although the figures remained lower than the same period last year, according to the Office for National Statistics.
Nicky Fisher, immediate past president of R3, the UK’s insolvency and restructuring trade body, and a partner at Herron Fisher, said: “Our members are telling us that inquiries from directors increased in November, as they looked to…
