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Higher borrowing costs take their toll as thousands of companies fail

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Company failures in England and Wales rose 27 per cent last month as growing numbers of businesses succumbed to rising inflation and a stagnant economy

For individuals, 643 bankruptcies were registered, which was 29 per cent higher than in June 2022, but less than half of pre-2020 levels.

. Many business leaders will no doubt already be having difficult conversations about whether they can continue to operate.

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