Insolvencies Rise Sharply As Gov't Ends COVID Support

By Joel Poultney (April 29, 2022, 7:02 PM BST) -- Company insolvencies more than doubled in the beginning of the year compared with the same time in 2021, a government agency has said, with data showing a wave of closures because of pandemic lifeline programs being wound down.

Almost 4,900 businesses in England and Wales registered for insolvency in the first three months of 2022, compared with more than 2,300 in the same period last year — a 112% increase, according to statistics published Thursday by the Insolvency Service, the government agency that oversees liquidations and restructuring.

The largest chunk of those came from creditors' voluntary liquidations, or CVLs, which hit...

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