The number of companies in England and Wales falling into insolvency has hit its highest level since the first pandemic lockdown.
Last month there were 1,348 registered company insolvencies, the highest since the first UK lockdown in March 2020, according to figures from The Insolvency Service. The August increase was up from 1,094 in July, indicating that some companies are failing despite the easing of Covid-19 restrictions earlier this year.
The latest data include 1,256 Creditors Voluntary Liquidations (CVL), where companies wind themselves up, which is the highest level seen in the series since January 2019. There were only 35 compulsory liquidations.
For individuals, there were 1,714 debt relief orders in England and Wales in Aug…
Read the full article at: https://www.thetimes.co.uk/article/insolvencies-at-highest-since-first-lockdown-sr67w39lw
