Stats released today by The Insolvency Service unveiled a 6% increase in company insolvencies in the year ending January 2025 compared to the month before, and 11% more than in January 2024, as the dust beings to settle following a disruptive Autumn Budget for British business.
According to Giuseppe Parla, Business Recovery Director at Menzies, December stats bucked the trend, and a January hike in corporate insolvencies may have laid the foundations for a tough year ahead:
“While December figures painted a picture of economic stability, January delivered a new wave of corporate insolvencies as British business continues to be hit hard. Despite a recession ‘near-miss’, many businesses are cutting their losses with prices…
