Insolvency statistics for England and Wales, for the period April to June 2016, show that total company insolvencies were lower than the previous quarter, and decreased on the year. This was mainly driven by a decrease in compulsory liquidations.
Andrew Tate, president of R3, the trade body for insolvency professionals, cited the cheapness of the cost of borrowing and high level of creditor forbearance as key factors for a fall in corporate insolvencies, along with the work of the insolvency and restructuring profession. It is still thought to be too early to glean any Brexit effect.
The cost of borrowing remains incredibly cheap for businesses and the last quarter saw better than expected GDP growth. These factors, combined with the high …
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