By Joe Hoppe
Company insolvencies in England and Wales rose on year in December and surged in 2023 as a whole, according to new government figures.
The number of companies that went bust rose 2% on year to 2,002 in December, bringing the total for 2023 to 25,159, up 14% on year, the government's Insolvency Service said. December's figure was an improvement on November's 2,470.
The agency said that December's figure was higher than both the level seen during the same month during the coronavirus pandemic, when government support measures were in place for businesses, and prepandemic December figures.
The provisional figures aren't seasonally adjusted. Adjusted figures, which the agency said will more accurately measure trends over time, are set for release on Jan. 30.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
01-16-24 1244ET
