Company insolvencies in England and Wales fell to their lowest level in more than thirty years during the first three months of this year, as government support measures helped businesses hit by the pandemic to ward off bankruptcy.
Britain suffered its sharpest fall in economic output in more than three centuries last year, but government-backed lending schemes enabled companies to borrow more than 75 billion to navigate cashflow problems.
The number of businesses 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 figures that are not seasonally adjusted show the lowest numbe…
Read the full article at: https://www.thetimes.co.uk/article/insolvencies-at-32-year-low-thanks-to-covid-loans-gg2908mh0
