Thousands of UK logistics, courier firms close; 75% rise in closures

There was an increase in closures in 15 out of 16 main industrial groups in Q1 this year compared with Q1 2021.

The number of new businesses registered in the country in Q1 2022 was at the same level as the number added in Q1 last year. Construction saw the most significant increase in creations in the quarter compared with the same quarter last year, while retail saw the most significant decrease.

Freight transport by road and courier activities (unlicensed carriers) are the two main industries contributing to the increase in closures within transport and storage. These closures follow significant increases in creations throughout 2020 and 2021 in those industries, according to the Office of National Statistics.

The first quarter this year is also the fourth quarter in a row where there have been more closures than creations.

ALCHEMPro News Desk (DS)