English and Welsh Company Insolvencies Surged in 2023
January 16 2024 - 11:59AM
Dow Jones News
By Joe Hoppe
Company insolvencies in England and Wales rose on year in
December and surged in 2023 as a whole, according to new government
figures.
The number of companies that went bust rose 2% on year to 2,002
in December, bringing the total for 2023 to 25,159, up 14% on year,
the government's Insolvency Service said. December's figure was an
improvement on November's 2,470.
The agency said that December's figure was higher than both the
level seen during the same month during the coronavirus pandemic,
when government support measures were in place for businesses, and
prepandemic December figures.
The provisional figures aren't seasonally adjusted. Adjusted
figures, which the agency said will more accurately measure trends
over time, are set for release on Jan. 30.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
January 16, 2024 12:44 ET (17:44 GMT)
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