Company insolvency actions among North East companies rose dramatically last month.
A new report from insolvency and restructuring trade body R3 found a 48% increase in liquidator appointments, administrator appointments and creditors’ meetings in February, compared with the previous month. The level is almost the highest it has been in a year, the authors say.
There were 87 insolvency activities during the month - a marked change on the roughly 60 that have taken place through each of the last six months. The data, which comes from Creditsafe, includes high profile collapses of construction firms Tolent and Metnor, and ethical products specialist Traidcraft.
