More big companies set to collapse in 2024

Insolvency experts anticipate a surge in the number of major companies facing bankruptcy in the upcoming year, attributing the risk to a “double whammy” of elevated borrowing costs and constraints on consumer budgets.

Administrators and restructuring specialists, in communication with the PA news agency, caution that even high-growth sectors like technology may not be immune to financial challenges.

This projection follows a challenging economic environment in the past year, leading to a notable increase in business collapses.

Official data from the Insolvency Service for the first 11 months of 2023 revealed a total number of company failures surpassing the entirety of 2022, Yahoo Finance reported.

READ MORE: https://finance.yahoo.com/news/more-big-companies-set-collapse-024525862.html

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