The latest #insolvency stats from R3 Association of Business Recovery Professionals reveal significant decreases in #corporate and personal insolvency rates across England and Wales, reflecting improved trading conditions and regulatory changes in October 2024. Corporate insolvencies dropped 10.4% month-on-month and 23.8% year-on-year, while personal insolvencies fell by 14.4% monthly. However, challenges like rising costs and economic pressures remain, urging businesses and individuals to plan carefully. Our Director and Head of Corporate Recovery, Frances Henshaw, North West who is also Chair of R3, notes: “Directors need to review all costs carefully and consider seeking advice to manage challenges like the new National Insurance changes.” For insights into these trends and advice on navigating financial challenges, visit: https://bit.ly/4eZIAgu
