Insolvencies skyrocket to 30-year high in 'striking' reminder of tough climate
Companies insolvencies soared to a thirty-year high last year, as all types of insolvency rose compared to 2022.
Source: cityam.com
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Number of businesses going bust at 30-year high due to tough economic climate
The number of company insolvencies hit a 30-year high in 2023 as firms suffered amid high interest rates and cost pressures
Source: mirror.co.uk
The number of people needing breathing space from debts increased by 25% last year
A standard breathing space is available to people with problem debt and gives legal protections from creditor action for up to 60 days
Source: mirror.co.uk
Company insolvencies hit highest level since 1993
More businesses entered insolvency last year than at any point since 1993, as higher interest rates weigh on UK firms, official data shows.
Source: dailymail.co.uk
Construction tops insolvency table with 4,371 collapses last year
The construction industry saw more companies go bust than any other sector last year, with a record 4,371 building firms collapsing in England and Wales.
Source: constructionnews.co.uk