Business insolvencies at post-pandemic high as higher rates and energy costs add to inflation pain

  • 📰 SkyNews
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 67%

United States News News

United States United States Latest News,United States United States Headlines

A 16% leap in the number of corporate insolvencies last month follows warnings from business groups that rising costs have become unbearable, with many firms choosing to throw in the towel

Why no economic growth is a problem

David Kelly, head of insolvency at accountants PwC, said:"Businesses are struggling to secure financing and pay off their loans due to high interest rates and the wider impact inflation and consumer sentiment is having on sales and cash flows." PwC suggested some of the hardest-hit sectors, such as hospitality, would likely see pressures ease due to stronger sales as the weather improved.

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:

 /  🏆 35. in US
 

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

The caring Tory government folks

United States United States Latest News, United States United States Headlines