Furniture maker insolvencies up during third quarter

Registered insolvencies of furniture manufacturers in the third quarter of 2022 increased on last year but were slightly down on the previous period.

According to the latest insolvency data from the Insolvency Service from July and September2022, a total of 38 registered company insolvencies were filed from furniture manufacturers in England and Wales.

This was down by 2.5% from 39 in the second quarter, and up 90% from 20 filed in Q3 2021.

So far this year, furniture manufacturer insolvency filings stand at 102, an increase of 148% from 41 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, three filings were registered during the period compared to one in the second quarter.

Furthermore, registered insolvencies of household goods retailers, including furniture retail, in the third quarter of 2022 increased on both last year and on the previous period.

Over the same period, a total of 62 registered company insolvencies were filed from household goods retailers across England and Wales.

This was up by 44% from 43 in the second quarter, and up 210% from 20 filed in Q3 2021.

So far this year, household goods retailer insolvency filings stand at 150, an increase of 138% from 63 against the same period last year.

As for Scotland, one filing was registered during the period compared to three in the second quarter.

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