Insolvency-related activity across the UK rose sharply in February, with Yorkshire and the Humber recording a 39% increase, according to data from R3, the UK’s insolvency and restructuring trade body. The East Midlands (79%) and South West (77%) saw the most significant jumps, while Northern Ireland was the only region to see a decline (-38%).
The data from Creditsafe, includes liquidator and administrator appointments and creditors’ meetings. Meanwhile, new business start-ups remained stagnant, rising just 0.2% in Yorkshire and the Humber—the only English region to see growth. Scotland recorded the highest start-up increase at 9%, while Northern Ireland and Wales also saw slight gains.
