Text area not showing carriage returns once saved

Text area not showing carriage returns once saved

I use a text area field for entering general information.
If I use carriage return to separate lines/paragraphs, these don't show when the field is saved.
Instead all text is just concatenated into one long line.
This used to work fine.
Please could you advise if this is a bug or if there is some setting somewhere I can use to fix this?

Many thanks.