Member Article
A sting in the tail of the official annual corporate insolvency figures for 2020 could indicate that North East businesses can expect to face challenges in the year to come.
Thats the view of Alexandra Withers, North East chair of insolvency and restructuring trade body R3, after the Insolvency Services official figures for 2020 showed a 27.1% year-on-year fall in the number of corporate insolvencies across England and Wales, from 17,224 in 2019 to 12,557 last year.
But despite the extension of government support mechanisms such as the furlough scheme, the final quarter of 2020 saw a 16.9% increase in the underlying number of corporate insolvencies from the previous quarter.
And with these support mechanisms scheduled to…
Read the full article at: https://bdaily.co.uk/articles/2021/02/04/sting-in-the-tail-warning-despite-significant-year-on-year-fall-in-corporate-insolvencies