Number of UK companies going into administration hits five-year peak

Brexit uncertainty and struggling high street retailers have fuelled a rise in the number of company administrations to the highest level in five years, according to official figures.The Insolvency Service said there were 451 administrations in the first three months of the year, up 21.8% from the final three months of 2018 – and the most recorded by the government agency since the first quarter of 2014.Firms in financial distress go into administration in an attempt to salvage themselves as a going concern or to recoup more money for creditors than if they were wound up.

Source: The Guardian
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