Jodie Wildridge, deputy chair of the UK’s insolvency and restructuring trade body R3 in Yorkshire and a barrister at Exchange Chambers in Leeds, says:
“The monthly increase in corporate insolvencies is driven by a rise in Compulsory Liquidations, which are at their highest level in more than five years, while the year-on-year reduction is due to a fall in Creditors’ Voluntary Liquidations (CVLs) and Administrations. Compulsory liquidations are often initiated by HM Revenue and Customs or local authorities as a measure of last resort and the increase indicates a toughening of the…
