2023 UK company closures due to creditor petitions increased 63% (2,067) from 2022 (1,265).
UK company closures due to creditor petitions increased by 63% in 2023, with 2,067 companies affected compared to 1,265 in 2022. This rise is attributed to creditors, including suppliers, utility companies, banks, and HMRC, seeking to liquidate indebted businesses and recover assets. Applications to liquidate indebted companies increased 70% to 4,917 in 2023, compared to 2,885 in 2022.
July 29, 2024
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