Forecasts predicting an impending tsunami of corporate insolvencies are alarmist, though the need for ongoing alertness remains, according to UK insolvency specialists.
Government support measures have allowed insolvency levels to remain stable amid the pandemic, but recent data shows significant surges as crisis-era support is withdrawn. According to statistics released by the Insolvency Service, June 2021 saw a 63 percent year-on-year increase, and Q1 FY21 saw a 31 percent uptick on the previous quarter.
The data is compounded by an earlier report by the European Systemic Risk Board warning of a potential wave of corporate insolvencies in Europe driven by the gradual withdrawal of public support measures capable of triggering a rece…
Read the full article at: https://www.accountancyage.com/2021/08/10/experts-reject-insolvency-tsunami-predictions-but-advise-caution/
