Business insolvencies on the rise
The number of businesses that became insolvent in the first three months of 2019 rose by 6.3% compared to the previous quarter.
The labour intensive construction, administration and retail sectors, are all struggling with higher wages and employer pensions auto-enrolment costs were the areas with the most insolvencies.
The construction sector, which is notoriously dogged by late payments, has the highest level of insolvencies and was up 0.6% from the 12 months ending Q4 2018.
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