The Midlands branch of insolvency and restructuring trade body R3 is urging company directors to plan ahead for the withdrawal of Government Covid support schemes, following a record low in quarterly insolvencies.
Latest Government statistics for England and Wales show that there were 2,384 corporate insolvenciesin the first quarter of 2021, a reduction of 21.9% compared to the previous quarters total of 3,053, and a fall of 38.3% compared to the first quarter of 2020 (3,863).
R3 Midlands Chair Eddie Williams, a partner at PwC in the East Midlands, said: The fall in corporate insolvencies to the lowest quarterly total on record has been driven by an overall drop in all corporate insolvency processes. Additional Government statistics pu…
Read the full article at: https://www.eastmidlandsbusinesslink.co.uk/mag/finance/corporate-insolvencies-set-for-sharp-rise-businesses-must-plan-now-r3-midlands/
