The volume of businesses in the UK entering formal insolvency has increased post the referendum on leaving the European Union, according to recent research published by KPMG. There were 1,174 in 2016, compared to 1,111 in 2015.
The number were down in the first half of the year, but grew significantly during the second six months of 2016. Construction & manufacturing sectors have been the most affected, as imported materials have become more expensive in the face of the weak pound, which squeezed profit margins.
Source – Recovery News
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