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.   LISTEN ABOVE  The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcasts.See omnystudio.com/listener for privacy information.