Insolvencies surge to highest rates since financial crash as voluntary bankruptcies hit record levels

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The UK government’s Insolvency Service today said it recorded a higher number of insolvencies over the past three months than at any other point in more than a decade, after the numbers of companies declaring voluntary bankruptcies hit their highest levels since records began.

The past three months saw a total of 5,629 English and Welsh compared declare bankruptcy after voluntary bankruptcies – that account for almost nine-in-ten of all insolvencies – soared to their highest levels since records began, data from UK government’s insolvency service shows.

The figures mark a 13 per cent uptick on the previous quarter, and an 81 per cent rise on the previous year, as the total number of insolvencies in England and Wales reached their highest levels since the third quarter of 2009.

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