The number of corporate insolvencies in England and Wales has risen ahead off business cost rises in April. Figures for January showed that 1,852 firms became insolvent, up 10.7% on a year earlier and 13.1% on 2023. Compared to December the level was up 6.5%
Personal insolvencies decreased by 3.4% in January to 9,706 compared to December, but were up 11.6% on a year earlier.
Bethan Evans, Wales chair of R3, the UK’s insolvency and restructuring trade body, said:“The monthly and yearly rise in corporate insolvencies is down to an increase in the number of creditors’ voluntary liquidations and administrations. That would suggest that directors may be choosing to close down their firms after years of challenging trading conditions and…
