The number of companies filing for administration across the North East and Yorkshire increased by nearly a third in the last quarter.
Analysis of The Gazette data by insolvency specialist Interpath Advisory show 45 firms from the North East and Yorkshire collapsed into administration between July and September, up from 34 in the same period last year. Covid debt fallout, price rises and supply chain issues are among the issues blamed for the steep rise.
A number of sectors have been impacted, including building and construction, automotive supply chain, industrial manufacturing, leisure and hospitality, retail and food and drink. The regions' figures are in line with the broader UK picture, which saw 265 companies enter administration in the third quarter - up from 176 in the same period the year before.
