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Damien Grant: Waterstone Insolvency Principal on the sharp rise in the number of insolvency
Published 7 months, 1 week ago
Description
Many businesses that limped through the pandemic are now going under.
Insolvency practitioners have been reporting a sharp rise in the number of insolvencies since mid-2022.
Smaller retail, hospitality, construction, transport and manufacturing operators are failing far more now than they were before the pandemic.
Waterstone Insolvency Principal Damien Grant told Kerre Woodham a lot of businesses are subject to economic winds, which are outside of their control.
He says we as a country are getting poorer, which means disposable income and things like hospitality are dropping, which is why you see a lot of pain in the hospitality sector in particular.
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