Company insolvencies are forecast to rise sharply in the UK over the coming months as government support measures are unravelled.
Begbies Traynor, the insolvency specialist, warned businesses were facing the double whammy of accruing liabilities and the withdrawal of state support schemes.
I expect well see numbers of insolvencies in excess of what we saw in 2008, said group executive chairman Ric Traynor, comparing the recession caused by the pandemic with the financial crash.
Many companies have essentially gone into hibernation, pulling down the shutters, taking the phone off the hook and not responding to creditors, added Mr Traynor.
But those liabilities are still accruing, and were going to have the double whammy of government su…
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