The latest figures published by the BEIS Insolvency Service “highlight the toll the current business climate is taking on firms in Wales”, says insolvency and restructuring trade body R3.
Insolvency litigation specialist and chair of R3 for Wales, Charlotte May has responded to the publication of the January 2022 corporate and individual insolvency statistics for England and Wales.
The chair highlighted that, over the last two months, businesses have had to trade through “a perfect storm of issues” which will have affected them and their income. These include new Covid measures, a slowdown in consumer spending and rising inflation as well as steep increases in energy prices.
