Insolvencies rise in July as soaring energy costs see small firms struggle

By Daniel Gayne2022-09-21T06:00:00

Source: Shutterstock

Soaring energy prices could tip indebted SMEs over the edge, advisor warns

The number of construction companies going bust rose in July for the first time in three months as the effect of soaring energy costs began to bite.

Latest figures from HM Insolvency Service showed 347 firms in the sector went to the wall in the second month of summer, up from the 313 recorded in June.

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