Sharp rise in number of firms facing insolvency and financial distress
The number of firms going out of business or facing serious financial distress has risen sharply this year, according to the latest figures. The Insolvency Service says there were 5,629 corporate insolvencies in Q2, an increase of 12.7% compared to Q1’s figures of 4,995, and an increase of 81.3% compared to Q2 2021 (3,105). Meanwhile,