This comes after the Insolvency Service reported a 63% increase in corporate insolvencies in June 2021 when compared to the same month in 2020.
Commenting on this news, insolvency practitioner PKF GMs director Oliver Collinge, said: This trend of rising corporate insolvency numbers has long been predicted and we expect it to continue as government support schemes reduce and the temporary restrictions on the use of certain reditor enforcement actions are lifted.
It is inevitable that insolvency numbers will return at least to pre-pandemic levels relatively soon and possibly higher for a period of time. One of these temporary restrictions, namely the moratorium on issuing winding up petitions, is due to end on 30 September 2021 which, if …
Read the full article at: https://www.creditstrategy.co.uk/turnaround-restructuring-insolvency-news/turnaround-restructuring-and-insolvency-news/corporate-insolvencies-up-63-in-june-2021