Corporate insolvencies rose by 32%, 1,964 in England and Wales in December 2022, according to Insolvency Service data, compared with the same period the year before.

A combination of high inflation and rising interest rates, poor consumer sentiment and increasing raw material costs is putting ever-increasing pressure on businesses and is expected to continue throughout 2023.

But insolvency, as we have said many times, does NOT have to be the end of your business.

However, you need to take action.  Ignoring the problem will not make it go away.

You can get help but you must be willing to be honest about the situation.

To help we have a free cash management tool for you to download here.

It will help you know exactly where your business is financially.

After that, the next step is to talk over your situation with a restructuring adviser.

K2 Partners is here for you and  happy to have an initial chat to understanding the issues involved in the next steps you may need to take.

Just give us a call.

We’re here to help.

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