The year-on-year level of corporate insolvency has risen for a third consecutive month in the North East, highlighting the continuing impact of the pandemic on businesses in the region, according to a new report.
The latest corporate insolvency figures for England and Wales reveal a 70.4 percent increase in creditors’ voluntary liquidations in July 2021 compared to July 2020.
While corporate insolvencies fell by 9.3 per cent month-on-month to 1,094, compared to Junes figure of 1,206, they increased year on year by 13.4 per cent.
Alexandra Withers, North East chair of insolvency and restructuring trade body R3 and an associate solicitor in the insolvency department of Short Richardson & Forth Solicitors in Newcastle, said the figure…
Read the full article at: https://www.insidermedia.com/news/north-east/year-on-year-rise-in-insolvencies-report
