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Rise in North firms hit by insolvency activity
The Journal
|May 16, 2025
NORTH East businesses are continuing to battle against financial pressures, with insolvency-related activity hitting a nine-month high last month, new research shows.
The lastest data from Creditsafe has been analysed by R3, the UK's insolvency and restructuring trade body, revealing there were 81 cases of insolvency-related activity in the region in April.
The figure marks the highest monthly total since July 2024's figure of 94, and a 24.6% increase year on year.
Insolvency-related activity includes administrator and liquidator appointments along with creditors' meetings, and they have risen every month since the start of the year, with April 2025's figures 6.6% higher than March's total of 76.
Kelly Jordan, chair of R3 in the North East, said hospitality, retail, and manufacturing companies are particularly at risk.
The region's hospitality trade has particularly suffered in recent months, with a number of businesses calling in administrators or liquidators.
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