UK companies, and the national economy more broadly, are facing an incredibly difficult winter as the economic challenges that have pounded the country for close to two years now persist, with levels of financial distress soaring and corporate insolvencies on course for their highest levels since 2009.
This has all been a long time coming, the natural consequence of a slew of headwinds including the ongoing impacts of COVID-19 and Brexit, the massive levels of debt companies accumulated during the pandemic, supply chain chaos, soaring prices for energy, labour and raw materials, the fallout from the war in Ukraine and the knock-on effects of a cost-of-living crisis that has driven consumer spending down dramatically.
While it may have been…
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