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The Guardian - UK
The Guardian - UK
Business
Phillip Inman

Monthly insolvencies in England and Wales hit three-year high

A person wearing headphones and a backpack walks past closing-down sale signs in Slough, Berkshire.
Closing-down sale signs in Slough, Berkshire. Experts say many businesses are having difficulty securing financing and paying off loans. Photograph: Maureen McLean/Rex/Shutterstock

More companies in England and Wales went bankrupt in March than at any point since monthly records began three years ago.

With businesses struggling to pay rising billsand higher interest rates while the economy stagnates, the Insolvency Service said the number of corporate insolvencies jumped to 2,457 last month, up 16% on a year earlier and up from 1,784 in February.

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