Insolvencies rise by nearly 40% in England and Wales as costs soar

The number of companies collapsing into insolvency in England and Wales has jumped by nearly 40% in a year, as soaring energy prices, high inflation and rising interest rates take their toll.

by | 15 Nov, 2022

There were 1,948 company insolvencies in England and Wales last month, the Insolvency Service reported, up 16% from September’s total of 1,684.

That figure is 38% higher than in October 2021, when there were restrictions on winding up companies during the Covid pandemic, and 32% higher than in 2019.
It showed how companies in England and Wales were facing a “worsening situation”, said Jeremy Whiteson, a restructuring and insolvency partner at the City law firm Fladgate.
Read more at The Guardian

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