Number of UK Bankruptcies Jumps to Highest in Over a Year
- High interest rates continue to take toll on firms in June
- Construction, retail and hospitality have been worst affected
A closed down pub in Cirencester, UK.
Photographer: Mike Kemp/In Pictures/Getty ImagesThis article is for subscribers only.
The number of companies in England and Wales going bust jumped to the highest in over a year in June, as many succumbed to the pressure of high interest rates.
There were 2,361 company failures, 17% more than in the same month a year earlier, the government’s Insolvency Service said on Friday. It was highest number since May last year and the joint third-highest in records dating back to 2000.