Number of UK Bankruptcies Jumps to Highest in Over a Year

The number of companies in England and Wales going bust jumped to the highest in over a year in June, as many succumbed to the pressure of high interest rates.

There were 2,361 company failures, 17% more than in the same month a year earlier, the government’s Insolvency Service said on Friday. It was highest number since May last year and the joint third-highest in records dating back to 2000.

The figures reveal the continuing toll that high interest rates and mounting cost pressures are having on company balance sheets. The number of firms going bankrupt has risen sharply ...