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Economics

Company Insolvencies Rise in UK Amid Economic Crunch

  • Expert warns of ‘unsustainable pressure’ on businesses
  • Weak consumer confidence and high rates threaten winter gloom

Corporate insolvencies in the UK rose 16% in September compared to a year earlier as experts warn more firms will fold under the pressure of weak consumer demand and rising borrowing costs.

The Insolvency Service said Friday that 1,679 companies registered for insolvency last month, up from 1,453 in September 2021.