Some 2,029 registered companies in England and Wales were declared insolvent in November, second only to the number in March, when pandemic-related protections against court orders ended.
The Insolvency Service, the government agency which published the data, said November’s increase partly reflected more winding-up petitions from tax authorities as well as 95 compulsory liquidations requested by a single, unidentified bank.
“Rising interest rates, energy costs and supply chain issues are starting to bite as we head into 2023,” said David Kelly, head of insolvency at accountants PwC.
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