Corporate insolvencies are set to double in 2021, with experts warning that targeted action is needed in next months Budget to avoid further damage.
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RSM, the audit, tax and consulting firm, predicts that business failures will double when government support, such as the jobs furlough scheme and bounce back loans, come to an end.
According to the Insolvency Service, there were 12,557 company insolvencies in 2020, down on the 17,225 the previous year. In Scotland, according to the Accountant in Bankruptcy, there were 592 company insolvencies in 20…
Read the full article at: https://www.scotsman.com/business/demand-budget-action-amid-fears-corporate-insolvencies-may-double-2021-3131504