An unexpected month-on-month dip in the number of corporate insolvencies in England and Wales is bringing respite to East Midlands businesses and signals hope that the summer months will bring a significant boost to trade.
This is according to the Midlands branch of the UK’s insolvency and restructuring trade body R3, and comes on the back of latest figures published by the Insolvency Service which show that corporate insolvencies decreased by 8.4% in June to a total of 2,043, compared to May’s total of 2,230, and fell by 15.9% compared to June 2024’s figure of 2,430.
R3 Midlands chair Stephen Rome, a partner at law firm Penningtons Manches Cooper in the region, said: “For the first time in many months we have seen a reduction…