Insolvency experts at PwC believe that around 30,000 businesses will become insolvent in 2024. The hardest areas to be hit are likely to be in the hospitality, transportation, manufacturing and storage sectors. No business is free from risk, with even blue chip retailer Selfridges looking for a rescue. This disappointing news will have a knock on effect, by creating a large wave of individual bankruptcies.
It perhaps should not be a surprise what with the on-going cost of living crisis, market spasms, various global hot-spots and (reducing) but relatively high inflation.
If you are a business or individual, that has insolvency concerns, or indeed are owed unpaid debts please contact our dispute department headed by Daniel Crook via dbc@kingsfords.net, or by telephone on 01233 665544, to discuss the various options open to you. We can seek to ensure you secure the best outcome for your set of circumstances whether a debtor or creditor.