UK insolvencies rising due to high interest rates, says Begbies Traynor

Insolvency specialist recruits more staff as small businesses are hit by tough economic climate

Higher interest rates are pushing an increasing number of companies into insolvency, according to one of the UK's biggest insolvency practitioners.

Begbies Traynor said it expected to see more businesses tip into insolvency in tandem with the indicators of corporate financial stress in the UK", alongside its financial results published on Monday.