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UK Company Insolvencies Rise by a Fifth as Economy Struggles

Fashion chains Joules and M&Co and online furniture brand Made.com have all filed for insolvency in recent weeks.

Fashion chains Joules and M&Co and online furniture brand Made.com have all filed for insolvency in recent weeks.

Photographer: Jose Sarmento Matos/Bloomberg

Corporate insolvencies jumped by a fifth as British companies battled inflationary headwinds, higher borrowing costs and squeezed consumers.

The UK’s Insolvency Service said there were 2,029 registered insolvencies in November, up 21% from the same month a year earlier and more than a third higher than before the pandemic.