Insolvencies in August in England and Wales are up, ending a trend for month-on-month declines (Tim Goode/PA)
(Picture: PA Archive)A sharp rise in the number of companies going bust has stoked fears about a UK recession and the threat posed to the economy by inflation and the cost-of-living crisis, especially to small businesses.
Official government figures for August reveal that almost 2,000 registered companies became insolvent in the month in England and Wales, up 43% from 2021 and a rise from pre-pandemic levels in 2019 of 42%. It was also the third-highest monthly number recorded since January 2019 and interrupted a period of month-on-month declines.
