The number of UK companies at risk of collapse rose by more than a third in the second quarter as surging inflation continued to erode margins. Almost 2,000 companies were in critical financial distressed as of the end of June, 37% more than the same period last year, according to a report from insolvency practitioners Begbies Traynor. The jump is also due to a catch-up effect after pandemic-related relief ended and courts tackled a backlog of registering claims for unpaid debts. Meanwhile, the number of companies filing for insolvency in England and Wales last quarter rose to the highest since 2009, according to data released on Tuesday by the UK’s Insolvency Service. The situation is expected to get worse, with the Bank of England saying on Thursday that the country is likely to enter the longest recession since the financial crisis. The BOE also […]