The UK is experiencing a record surge in businesses facing severe financial distress, with a 50.2% increase in cases, reaching 46,853 by the end of 2024. The construction industry is significantly affected, alongside consumer-facing businesses that have seen sharp increases in financial difficulty, particularly in leisure and retail sectors. High-profile failures have triggered concerns about the sustainability of these sectors amid rising operational costs, tax hikes, and low consumer confidence. Experts warn that these factors could lead many firms toward insolvency in the coming year.
UK businesses are facing alarming financial distress, particularly in construction and retail sectors, signaling potential widespread insolvencies in 2025.
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