A RISING number of bosses have decided to close their businesses after spending well over a year trying to survive the pandemic, an insolvency expert says.
Corporate insolvencies fell slightly in July compared with the previous month, but year-on-year figures were up substantially for the third month in a row.
Southampton-based Mike Pavitt, immediate past chair of the insolvency and restructuring body R3 locally, said: The month-on-month fall in formal corporate insolvencies was not unexpected. Formal insolvency numbers in past years have often fallen off somewhat during holiday periods and away from recurring triggers such as rent quarter and tax demands.
He said the year-on-year rise for three consecutive months was potentially much mo…
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