Pic: Philip Toscano/PA Wire
Businesses are being urged to act early and seek advice as the Government’s Insolvency Service has shown a 63% increase in corporate insolvencies compared to June last year.
After a year of struggles, where thousands of businesses have faced furlough, redundancies, and closures, experts are advising businesses to plan ahead to build resilience, despite insolvencies being 18% lower than the number two years earlier, in June 2019.
Leading restructuring and insolvency professional, Oliver Collinge from PKF GM has warned that insolvency numbers are predicted to rise as government support schemes reduce, saying “It is inevitable that insolvency numbers will return at least to pre-pandemic levels relatively soon a…
Read the full article at: https://www.inyourarea.co.uk/news/company-insolvencies-surge-as-businesses-urged-to-take-action-early/
