There was a rise in the number of businesses across the North East and Yorkshire that became insolvent in the first half of 2022.
Analysis from Interpath Advisory - formerly KPMG’s UK restructuring practice - shows corporate insolvencies rose 35% in the first six months of the year, as a total of 62 companies across the two regions fell into administration, up from 46 during the same period of 2021. The trend reflects the UK picture which shows 451 companies fell into administration in the first half of 2022 – up from 312 companies in the first half of 2021, but not at the pre-pandemic levels of 655 in the first half of 2020.
Interpath said insolvencies could be seen across a range of sectors as building and construction, industrial manufacturing, and retail businesses experienced the sharpest rises.
