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.  

LISTEN ABOVE 

See omnystudio.com/listener for privacy information.