How do you solve a problem like insolvency?

With insolvencies set to rise in 2022, what can businesses do to avoid going under?

by Éilis Cronin
Insolvency

There is a crisis looming for British businesses - insolvency. 

It has been brewing for the last three years but is set to rear its ugly head in 2022, against a backdrop of rising inflation, the impact of Brexit and vanishing Covid support.

Prior to Covid, the UK was seeing a year-on-year increase in the number of registered insolvencies, a number that hit its peak in 2019. There were 17,196 insolvencies in 2019, an almost 7% increase on 2018 and the highest level of underlying insolvencies since 2013, according to data from The Insolvency Service.

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