Company insolvencies have declined slightly so far this year, but given the significant international trade tensions, businesses are facing “significant headwinds to consider for the rest of the year”.
According to Deloitte, so far this year there have been 407 insolvencies — down by 1% compared to the same period in 2024 — with the majority of these being seen in the services and hospitality sectors.
There have been 173 insolvencies in the broad services sector, while there have been 66 in the hospitality sector.
While the hospitality sector saw a 14% drop in insolvencies year-on-year, Deloitte said the sector continued to face a high level of insolvencies.
The firm said hospitality had the highest number of insolvencies of any…