A rise in corporate insolvencies shows many bosses are looking to close their businesses as they worry about their prospects for 2022, a leading South West expert says.
New insolvency statistics for 2021 reveal there were 14,048 underlying corporate insolvencies in the UK in 2021 – an increase of 11.2% from 2020’s figure of 12,634.
Although this was a fall of 18.2% on 2019’s figure (17,166), Charlotte May, chair of insolvency and restructuring trade body R3 in the South West, said it was driven by a rise in Creditor’s Voluntary Liquidations (CVLs), which reached levels not seen since 2009.
