Furniture maker insolvencies up during second quarter

Registered insolvencies of furniture manufacturers in the second quarter of 2022 increased both on last year and the previous period.

According to the latest insolvency data from the Insolvency Service from April to June 2022, a total of 37 registered company insolvencies were filed from furniture manufacturers in England and Wales.

This was up by 48% from 25 in the first quarter, and up 164% from 14 filed in Q2 2021.

So far this year, furniture manufacturer insolvency filings stand at 62, an increase of 195% from 21 against the same period last year.

The figure is already over the whole of 2021 filings, which resulted at 58 last year.

As for Scotland, one filing was registered during the period compared to none in the first quarter.

Furthermore, registered insolvencies of household goods retailers, including furniture retail, in the second quarter of 2022 increased on last year but fell slightly on the previous period.

Over the same period, a total of 43 registered company insolvencies were filed from household goods retailers across England and Wales.

This was down by 4% from 45 in the first quarter, and up 95% from 22 filed in Q2 2021.

So far this year, household goods retailer insolvency filings stand at 88, an increase of 109% from 42 against the same period last year.

As for Scotland, three filings were registered during the period compared to none in the first quarter.

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