Corporate bankruptcies are increasing in most advanced economies as borrowing costs rise and governments unwind pandemic-era measures to support business. In the US corporate bankruptcies rose 30 per cent in the 12 months to September compared with the period a year before, according to data from courts. Germany Europe’s largest economy, the bankruptcies rose 25 per cent from January to September compared with the same period last year according to  Germany’s statistical office Destatis. According to Eurostat insolvencies rose 13 per cent  year on year in the nine months to September to reach their highest level in eight years.

In England and Wales insolvencies for the January-September period had also hit the highest level since 2009, according to the Insolvency Service.