Despite the doom and gloom of the pandemic year of 2020, the Corporate and Personal Insolvency statistics for England and Wales appear to be a surprise. It is only when you unpack the reality of the figures that perhaps the true extent of the problem that companies and individuals in the UK are going to face over the next year or two becomes apparent.
Corporate Insolvencies
- There were 12,557 underlying corporate insolvencies in 2020 a fall of 27.1% from 2019s figures
- Underlying corporate insolvency numbers increased by 16.9% between Q3 and Q4 2020.
On the surface fewer corporate insolvencies is good news, particularly when the news has been full of iconic UK brands falling into insolvency. However, it is not a surprise when you con…
Read the full article at: https://www.ibblaw.co.uk/insights/2020-annual-insolvency-figures-what-do-they-tell-us