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LONDON More businesses and individuals across Britain were declared insolvent last month than earlier in 2021 though levels remained mostly below those of a year ago as government support muted the impact of the coronavirus pandemic.
Britains economy shrank by almost 10% last year and millions of people have been unable to work due to lockdown restrictions, but state loan guarantees and wage subsidies have kept most companies and households financially afloat for now.
Government figures on Thursday showed 992 companies in England and Wales were declared insolvent in March.
This represents a rise since the start of the year but is still 20% fewer than in March last year at the start of the pandemic, and 37% down on two …
Read the full article at: https://financialpost.com/pmn/business-pmn/uk-insolvencies-rise-but-still-below-pre-pandemic-level
