A sharp fall in company collapses masks the financial pain about to emerge from the pandemic, East Anglian insolvency experts are warning.
The East of England branch of insolvency and restructuring trade body R3 is urging company bosses to plan ahead for the withdrawal of government support schemes.
Ironically, the latest government figures for England and Wales show a record low in quarterly insolvencies. The first quarter of 2021 recorded a 21.9% fall, taking the previous quarters total of 3,053 down to 2,384. Year-on-year, the latest figure was 38.3% lower than in the same quarter of 2020 when 3,863 were recorded.
But R3 Eastern chairman Alistair Bacon said it was clear that a sharp rise in insolvencies is on the horizon.
The fall …
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