The number of insolvencies across Warwickshire has nearly doubled since the pandemic, an investigation by the BBC has revealed.

A study of insolvency notices in The Gazette - the official paper of record for public notices - showed around eight out of 10 UK local authorities saw an increase in creditors voluntary liquidations last year, compared to the year before the pandemic.

In Warwickshire the numbers have increased from 65 insolvencies in 2019, to 118 in 2022 - an 82 per cent increase.

Over the four year period 329 businesses folded in the county, including 67 and 79 in 2020 and 2021 respectively.

Across the UK there has been a 59 per cent increase in insolvencies over the same period.

The withdrawal of government support and soaring energy costs have been blamed for the rise, with retail and construction the hardest hit industries.

Liquidations are on the rise across the UK (image via BBC)

"Some of those businesses have emerged from the pandemic doing well, but for many others trading is very difficult, particularly those that are in consumer-facing sectors," said insolvency expert Julie Palmer - a regional managing partner at Begbies Traynor.

"There's a lot of nervousness in the economy at the moment due to macro-economic pressures. With interest rates, they are still not high in relative terms, but high in terms of how this generation perceives them, together with inflation that until recently seemed to be galloping out of control.

"This has caused a real cost of living crisis, which is really hitting consumer confidence. People are tightening their belts and it's particularly those consumer-facing sectors, that we're really beginning to see struggle at the moment. 

"We are seeing rising levels of distress that's beginning to translate in terms of a pickup in insolvency rates, we haven't seen that massive falling off the cliff edge yet, but I think some factors will speed up that process a little bit."

Last year, Wroxall Abbey was forced to close temporarily as its then owners, Trinity Hotel Ltd, had been placed in the hands of joint administrators. The hotel has since reopened under new management.

Warwick has also seen nationwide chains pull out from the high street, with Holland & Barrett closing most recently.