More companies going bust as pressures mount

THE number of companies going bust across England and Wales remained elevated last month, new data shows, as pressures intensify for firms grappling with higher costs.

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Official data from the Insolvency Service showed there were 2,081 company insolvencies in July, edging up by 1% compared with June. The number of compulsory liquidations was slightly higher than in June and up 11% compared with the same month in 2024.

Compulsory liquidations happen when a company is forced to close when it cannot pay money owed to creditors.