30 per cent spike in insolvent companies as firms hit by rising costs and falling consumer spending

Almost 6,000 firms have gone down according to Mazars, the audit and tax specialists, up from 4,578 inn the previous three months.

This comes after the Bank of England raised interest rates four times in a  row in a bid to stem inflation, with the latter set to pass double figures in the near future.

Read more at City A.M.