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Analysts have warned that the number of firms going bust in 2025 is predicted to pass 26,000 by the end of the year.

Insolvency rates continue to remain high, and experts are predicting this will remain true for the next two years as well.

Allianz Trade's report found that insolvency rates are 30 per cent higher than pre-Covid levels, with 2,000 firms shutting their doors each month.

26,750 businesses are forecast to shut their doors by the end of 2025, with 25,900 to collapse next year, and 24,500 in 2027.

Maxime Darmet, senior economist at Allianz Trade, said: “Higher costs, wages and taxes dragging on businesses’ resources are the major driver.”

There have been countless store closures throughout the year, with factors such as the hike in National Insurance for employer

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