UK facing steep rise in bankruptcies – report   ...News

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UK facing steep rise in bankruptcies – report  
Higher borrowing costs have been hurting companies, the Insolvency Service has said The number of bankruptcy declarations in England and Wales reached the highest level in over a year last month, as soaring interest rates weighed on companies’ budgets, according to a report by the UK’s Insolvency Service on Friday. According to the data, 2,361 companies went out of business last month in a 17% surge compared to the same month last year. It was the highest number since May 2023, and the joint third-highest on record going back to 2000, the report said.  Construction was the worst-affected industry following a dip

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