By David Milliken
LONDON (Reuters) Company insolvencies in England and Wales fell to their lowest level in more than 30 years during the first three months of this year, as government support measures helped businesses hit by the coronavirus pandemic to ward off bankruptcy.
Britain suffered its sharpest fall in economic output in more than 300 years last year, but government-backed lending schemes enabled firms to borrow more than 75 billion pounds to bridge a shortfall in cashflow.
The number of businesses which were declared insolvent sank to 2,384 in the first quarter of 2021 from 3,053 in the final three months of 2020, the lowest number in seasonally adjusted data that goes back to the first quarter of 2011.
Longer-running figur…
Read the full article at: https://www.globalbankingandfinance.com/uk-company-insolvencies-fall-to-lowest-since-1989/
