Insolvencies at new high as UK economy takes hit from Brexit

London

BABY goods retailer Mothercare may have celebrated the opening of two new stores in Singapore last year, but the British brand is preparing to shut the doors of its UK outlets.

Mothercare is one of several big British names that have had to deal with the threat of insolvency in 2019 (see table).

Others include travel agent Thomas Cook Group, now in liquidation, restaurant chain Jamie's Italian, which is now in administration, and department store Debenhams, whose holding company is in administration.

Measured by insolvencies, 2019 has been one of the toughest years for British business in a long time.

According to the UK's Insolvency Service, a government agency that supports those in financial distress, the number of company insolvencies h…