Record number of bankruptcies expected in UK

Insolvency figures released today in the UK are expected to show that a record number of people went bankrupt during the second quarter of the year.

Accountancy firm KPMG is predicting the official statistics will show 30,500 people went bankrupt or took out an Individual Voluntary Arrangement (IVA) during the three months to the end of June, 14% more than during the same quarter the previous year.