Business leaders in the South West have been warned to stay “vigilant” for signs of financial distress after new data showed corporate insolvencies have reached the highest levels for more than three years
Figures from the government’s Insolvency Service found the number of companies in England and Wales unable to pay debts last month rose by more than a third last month, to a total of around 2,500. This reflected a more than 50% increase compared to pre-pandemic levels in March 2019 (1,581).
The number of personal insolvencies also rose at a similar rate last month, with a total of 11,438 compared to February's total of 8,237.
