UK corporate insolvencies hit four-month high in August

McGill notes more than 250 connected real estate companies entered administration between March and August, while creditors and HMRC increasingly pursue compulsory liquidations to recover debts. Retail, construction and hospitality sectors are under particular pressure from rising costs, weak margins and reduced footfall during the heatwave, with brands including TG Jones and Beefeater cutting their presence.

McGill warns cost-of-living pressures are now affecting higher-end brands, and firms are watching the forthcoming Budget closely.