Reasons to go Bankrupt

by Dean Crofts on 3 August, 2023

Interesting, that I receive insolvency news as part of my email inbox and this recently came up:

“However, the company began to experience difficulties following Brexit, when shipping costs more than doubled, resulting in a decrease in overseas purchases for the company’s stock (its main revenue stream). In addition, the ongoing cost of living crisis caused the company’s main demographic (18-30-year-olds) to cut down on unessential items. Supply chain issues also made it difficult for the company to fulfil orders.”

That statement was from an insolvency joint administrator into reasons that UK business failed, and they only started in 2014 making £2.6 million turnover before the company ran into difficulties.

Have we as a country cut ourselves off from the world?

Will our economic performance ever recover?

What have we done?

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