UK company insolvencies rise over pre-pandemic levels – business live | Business
“People have been talking about a ‘tidal wave’ of companies going bust. However, it’s not here yet.
As the latest corporate insolvency statistics for England & Wales show, there were 1,674 registered company insolvencies in November – of which 1,521 were Creditors’ Voluntary Liquidations (CVLs), which is double the number in November 2020.
“Conditions are creating a perfect storm for this ‘tidal wave’ of corporate insolvencies – Brexit, Covid, supply and staffing problems, increasing CCJs, Bounce Back Loans due for repayment and the rising of both inflation and interest rates.
“A lot of companies that were surviving thanks to the low-interest rates and government support have now run out of money and time. And there will be more.
