Corporate insolvencies during the three months to the end of September were the highest of any third quarter in over two decades. According to a North West industry spokesperson, 'director fatigue' is one of the factors behind the rise.
Corporate insolvencies during the three months to the end of September were the highest of any third quarter in over two decades, according to the latest government figures. They also show the number of creditors’ voluntary liquidations – where directors close their business voluntarily – was the second highest on record. Now a leading North West insolvency expert has claimed that 'director fatigue' is one of the key factors behind the rise.
After years of battling through the pandemic, supply chain issues, increasing costs, rising inflation and requests for higher wages, many directors have simply had enough and are calling it a day while that choice is still theirs.' The figures show there were 6,208 seasonally adjusted corporate insolvencies in England and Wales during the quarter, down 2% on the previous quarter but 10% higher than the third quarter last year and 41% higher than in 2019 before the pandemic.
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