Connect with us

Hi, what are you looking for?

Business

UK company insolvencies hit highest since 2009

The number of company insolvencies in England and Wales hit its highest level in the April-June period in nearly 13 years as surging energy prices took their toll on business, data showed on Friday.

Insolvencies fell in 2020, when the government rushed to help businesses survive the coronavirus pandemic, but they have risen since 2021, the Office for National Statistics said.

Company insolvencies in the second quarter of 2022 reached 5,629, the highest since the third quarter of 2009, the ONS said.

Last month Germany reported a 26% annual rise in insolvencies in August, and said it would temporarily relax requirements for companies to demonstrate that they were viable in order to keep more businesses afloat.

Read more:
UK company insolvencies hit highest since 2009

    You May Also Like

    Business

    The head of the International Monetary Fund has warned of increased risks to the stability of the financial system after weeks of banking sector...

    Business

    1.22 billion people use Instagram every month. That’s a huge number of Instagrammers trying to hit it big on the platform all at the...

    Business

    Since the rise of online casinos, cybersecurity has become a major concern for both casino operators and players alike. The transactions that go around...

    Business

    The Home Office has made next to no progress in tackling criminal fraud during the past five years, despite it having become Britain’s most...

    Disclaimer: rightdecisionnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023 rightdecisionnow.com | All Rights Reserved