January 26, 2018 / 10:23 AM / 25 days ago

English company insolvencies rise to four-year high in 2017

LONDON (Reuters) - The number of company insolvencies in England and Wales rose to their highest since 2013 last year, while personal insolvencies hit a three-year high, government figures showed on Friday.

Some 17,243 companies entered insolvency last year, the highest number since 2013 and 4 percent more than in 2016.

The government agency which published the data said numbers were boosted by two bulk insolvencies caused by a change to tax rules, and that on an underlying basis the total number last year was 15,112, the highest number since 2014.

Individual insolvencies rose by 9 percent on the year to a three-year high of 99,196.

Reporting by David Milliken; Editing by Alistair Smout

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