The number of companies filing for administration across the Midlands has jumped by 32 per cent on this time last year due to a reported combination of factors such as inflation, high energy bills and interest rate rises.
Analysis of notices in The Gazette by restructuring and debt advisors Interpath Advisory suggests 29 Midlands firms fell into administration in the first three months of the year – up from 22 this time last year.
Regional companies which have found themselves in financial difficulties so far this year include Dako Construction, based at Colwick Quays Business Park in Nottingham, which called in administrators in February. Midlands-based aerospace, defence and power generation supplier Bromford Industries – and its subsidiary Accrofab – appointed Interpath Advisory as administrators in March.
