Corporate insolvencies increased 49.1%, from 163 to 243 year-on-year in the first quarter.
The increase in corporate insolvencies has largely been driven by a 52% increase in the number of creditors’ voluntary liquidations - rising from 131 to 199 from 2021 to 2022.
This suggests that many company directors are making the decision to close their businesses rather than attempting to carry on trading in the current climate.
