Monthly insolvencies tick up again as firms feel the brunt of the Bank of England’s interest rate hikes

The latest insolvency figures reveal an increase in voluntary administrations, which rose 40% on last year to hit 120, with PwC restructuring partner Zelf Hussain commenting that this indicates a “proactive approach by some firms to address their financial challenges through cost reductions and restructuring rather than outright insolvency.”

More from City AM.