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Company insolvencies rise by 38%

Company insolvencies rose sharply last month, increasing by 38% on last year.

The number of corporate insolvencies rose from 1,410 to 1,948, according to figures from the Insolvency Service, as businesses face higher inflation and an uptick in winding-up petitions from HM Revenue & Customs.

The numbers were driven by 1,594 so-called “creditors’ voluntary liquidations”, while compulsory liquidations rose by 357% annually to 242.

The Times (£)

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