• Make a contribution
  • Get the Print Edition
  • Sign up for our daily newsletter
Wednesday, July 30, 2025
  • Login
Reading Today Online
  • HOME
  • YOUR AREA
    • All
    • Caversham
    • Central Reading
    • East Reading
    • Katesgrove
    • Reading
    • Southcote & Coley
    • Tilehurst & Norcot
    • Whitley

    Man charged with drugs and weapons charges following stabbing of teen in Reading

    Two attacked in Western Elms in early hours of Monday

    Reading West and Mid Berkshire MP Olivia Bailey celebrates Lionesses Euros win at 10 Downing Street

    Reading Pride releases statement regarding dropped sponsors ahead of town hall this week

    Uni of Reading given Green Flag award for 15th consecutive year

    Royal Berks Fire and Rescue unveils new training centre in Whitley Wood

    Reading men charged with robbery and weapons offences

    Time flies when you’re having fun volunteering

    Rewind returns next month

  • COMMUNITY
  • READING FC
  • SPORT
    • All
    • Basketball
    • Football
    • Rugby

    Reading West and Mid Berkshire MP Olivia Bailey celebrates Lionesses Euros win at 10 Downing Street

    Reading FC compete with League One clubs to sign striker

    Reading FC star Knibbs set to make Championship move as fee is agreed

    Reading FC confirm new signing as midfielder joins on permanent deal

    Former Reading FC loanee joins rivals

    Reading FC sign German attacker on permanent deal

    Reading and Chelsea legend Kerry Dixon set for Q&A at Purple Turtle

    Ex-Reading star Ejaria on trial with former Royals manager

    League One side set to win race for former Reading FC young star

  • ENTERTAINMENT
    • ARTS
    • READING FESTIVAL
    • READING PRIDE
    • WOKINGHAM FESTIVAL
  • PRIDE OF READING
  • OBITUARIES
  • JOBS
  • ADVERTISE
  • CONTACT US
No Result
View All Result
Reading Today Online
No Result
View All Result
Home Business

Insolvency activity down but caution urged

Andrew Batt by Andrew Batt
Monday, October 23, 2023 3:00 am
in Business
A A
Garry Lee, chair of R3?s Southern and Thames Valley region.

Garry Lee, chair of R3?s Southern and Thames Valley region.

Share on FacebookShare on Twitter

Insolvency activity in the South East saw a slight reduction during September following a big increase in August, and remains only slightly higher than the same period last year.

According to R3, the UK’s insolvency and restructuring trade body, the figures showed a decrease in insolvency-related activities from 264 in August to 219 in September. Tthese include administrator and liquidator appointments, together with creditors’ meetings.

The figure was 215 in September 2022.

However, R3 has warned against complacency because of the ongoing economic instability that continues to cause business difficulties.

Following its analysis of data about insolvencies and start-ups supplied by business intelligence provider Creditsafe, it found the number of firms in liquidation who owed money to their creditors in the South East was 296 – up from 225 in August, but well down on July’s figure of 402.

The South East figure is now the third highest for any part of the UK, behind Greater London, which has 493 and regularly tops the chart, and the West Midlands with 357.

Related posts

47-year-old woman arrested after two pedestrians die in road traffic collision in Caversham

Boy, 15, left with broken jaw after being attacked by three teenagers in Reading

Police release CCTV of man in relation to assault in Reading

Man and woman jailed for GBH, fraud and robbery in Reading, including assault on a man in his 80s

Garry Lee, chair of R3’s Southern and Thames Valley region, said: “Although September’s corporate insolvency figures have shown a slight decrease for the South East this is no time for complacency in the business world.

“Our economic situation remains volatile – interest rates are high, inflation is coming down at a snail’s pace and still above target, energy costs are increasing again, the jobs market is flattening and growth is stifled at less than 0.5%.

“Interest rates are at a 15-year high, although the Bank of England left them at 5.25% in September after more than a year of consecutive rises and this means more businesses are likely to find themselves in difficulty.

“While it seems that we may be escaping a recession, there is no doubt that businesses are continuing to be stressed, with more companies entering an insolvency process in an attempt to resolve their financial issues.

“The demise of the long-established Wilkinson’s chain of stores only serves to emphasise how gruelling the retail sector is at present and it would not be surprising to see further problems occurring as people are restricting their spending to essentials.

He added that the Creditsafe figures for September do demonstrate promising movement, but we must be aware that this could be just a blip.

“It is our view that more and more businesses are at a point where they will need specialist help to survive – and that a sale or a liquidation may be their only options.”

Garry, who is an Associate Director in the recovery and restructuring services department at professional services group Evelyn Partners’ Southampton office, added: “Our message to directors is simple: be alert to signs your business could be financially distressed and seek advice as soon as they show themselves.

“If you’re having problems paying wages, staff or suppliers, if stock is starting to pile up, or if you’re worried about your business and its finances, that’s the time to speak to a qualified advisor.”

The number of start-ups in the South East decreased slightly from 6,075 in August to 5,661 in September, still well short of the 12-month high of 6,948 in March.

Creditsafe is a multinational business intelligence provider with services including company credit scores and credit report information.

R3’s Southern & Thames Valley region includes Buckinghamshire, Oxfordshire, Hampshire, the Isle of Wight and Berkshire.

Keep up to date by signing up for our daily newsletter

We don’t spam we only send our newsletter to people who have requested it.

Check your inbox or spam folder to confirm your subscription.

Tags: berkslocal newsnewsrdg newsrdgukrdguk berkshirerdguk newsreadingreading berkshirereading newsUK News
Previous Post

Reading 1-3 Sheffield United: Royals blunted by Blades in home defeat

Next Post

Rotary Club of Pangbourne opens entries to its Woodcote 10k race – held early in the new year

FOLLOW US

POPULAR STORIES

  • Reading FC star Knibbs set to make Championship move as fee is agreed

    0 shares
    Share 0 Tweet 0
  • Former Reading FC striker Andy Carroll joins new club in England after leaving France

    0 shares
    Share 0 Tweet 0
  • Reading FC compete with League One clubs to sign striker

    0 shares
    Share 0 Tweet 0
  • Masked men armed with weapons rob store in Reading

    0 shares
    Share 0 Tweet 0
  • League One side set to win race for former Reading FC young star

    0 shares
    Share 0 Tweet 0

RDG.Today – which is a Social Enterprise – provides Reading Borough with free, independent news coverage.

If you are able, please support our work

Click Here to Support RDG.Today

ABOUT US

Reading Today is dedicated to providing news online across the whole of the Borough of Reading. It is a Social Enterprise, existing to support the various communities in Reading Borough.

CONTACT US

news@wokinghampaper.co.uk

Reading Today Logo

Keep up to date with our daily newsletter

We don’t spam we only send our newsletter to people that have subscribed

Check your inbox or spam folder to confirm your subscription.

The Wokingham Paper Ltd publications are regulated by IPSO – the Independent Press Standards Organisation.
If you have a complaint about a  The Wokingham Paper Ltd  publication in print or online, you should, in the first instance, contact the publication concerned, email: editor@wokingham.today, or telephone: 0118 327 2662. If it is not resolved to your satisfaction, you should contact IPSO by telephone: 0300 123 2220, or visit its website: www.ipso.co.uk. Members of the public are welcome to contact IPSO at any time if they are not sure how to proceed, or need advice on how to frame a complaint.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • MY AREA
    • Central Reading
    • East Reading
    • Bracknell
    • Calcot
    • Caversham
    • Crowthorne
    • Earley
  • COMMUNITY
  • SPORT
    • Reading FC
    • Football
    • Rugby
    • Basketball
  • ENTERTAINMENT
    • ARTS
    • READING FESTIVAL
    • READING PRIDE
    • WOKINGHAM FESTIVAL
  • PRIDE OF READING
  • OBITUARIES
  • JOBS
  • ADVERTISE
  • CONTACT US
  • SUPPORT US
  • SIGN UP FOR OUR NEWSLETTER
  • WHERE TO GET THE PRINT EDITION

© 2021 - The Wokingham Paper Ltd - All Right Reserved.