News Formal

UK Company Failures Rise Amid Debt Concerns

  • 📰 LBCNews
  • ⏱ Reading Time:
  • 25 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 59%

Business News

Insolvencies,UK Economy,Debt

Official data reveals a 13% surge in UK company insolvencies in November, reaching 1,966. Experts express worries about businesses grappling with unsustainable debts, predicting continued high insolvency rates in 2025. Factors contributing to the situation include rising inflation, interest rates, and increased national insurance contributions.

The number of UK companies going bust increased last month, official data shows, as experts warned that more businesses face a “perilous financial position” as they remain weighed down by debts.

This included an 8% month-on-month increase in the number of creditors’ voluntary liquidations , at 1,565. “Insolvency levels have remained high throughout the course of the year and, despite improving economic conditions – including lower levels of inflation and rate cuts – we anticipate them remaining so in 2025 as firms continue to carry unsustainable levels of debt.

This was followed by wholesale and retail trade, and accommodation and food services, according to the data.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 75. in BUSİNESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Intel CEO Pat Gelsinger Steps Down Amid Company TurmoilIntel has confirmed the sudden departure of CEO Pat Gelsinger, aiming to restore investor confidence. Gelsinger will retire in December and be temporarily replaced by EVP David Zinsner and Michelle Johnston Holthaus, with Frank Yeary becoming interim executive chair.
Source: TheRegister - 🏆 67. / 61 Read more »

KTM denies Red Bull financial help incoming amid company strugglesMotoGP project on track despite financial turmoil at KTM
Source: crash_motogp - 🏆 33. / 68 Read more »