Company insolvency statistics continue to defy gravity but an increase in IVAs shows that personal finances are beginning to take a hit as the impact of the pandemic starts to hit.
Insolvency figures released last week by the Governments Insolvency Service show a 23% drop in corporate insolvencies compared to April last year, and a 35% drop compared to April 2019.
Conversely, Individual Voluntary Arrangements (IVAs), used by individuals in personal financial difficulty, were up 22% for the three months to the end of April 2021, compared to the three-month period ending April 2020.
Corporate insolvencies, the calm before the storm
Leading restructuring and insolvency professional, Peter Hart from PKF GM said, We expect this trend of low…
Read the full article at: https://londonlovesbusiness.com/company-insolvencies-remain-at-record-lows-but-for-how-long/
