Corporate insolvencies rose sharply in England and Wales in December, as business costs soared, pandemic-related government support came to an end and the economic recovery lost momentum.
Data from the Insolvency Service on Tuesday showed that the number of registered company insolvencies reached 1,964. That is 32 per cent higher than in the same month of 2021, and 76 per cent higher than in December 2019, before the Covid-19 pandemic.
Corporate insolvencies are formal measures taken when a business can no longer pay its debts.
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