Damien Grant: Waterstone Insolvency Principal on the sharp rise in the number of insolvency

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.

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