The UK Insolvency Service has just released its quarterly statistics for October- December 2019 which show that insolvency appointments in liquidations and administrations in 2019 were at levels higher than for five years.
Construction and support services are the areas of the highest number of appointments, followed by the wholesale, food and manufacturing sectors. Whilst these are generally large companies they can operate on smaller margins and be more easily affected by market conditions
The 24% upsurge in administrations last year may have had something to do with the retail industry with landlords unwilling to accept CVAs. The only alternative if CVAs are no longer viable is administration, which is a far more intensive insolvency process.
Posted 8:55 AM | Permalink