Four-year Insolvency Low Set to Give Way to Dramatic Rise In Company Failures

Corporate insolvencies dropped to their lowest point in four years during the second quarter – but experts have warned that it is looking like the calm before the storm, Foodservice Equipment Journal reported. 274 companies in the UK entered administration in the second quarter of 2020, representing a 28% reduction on Q1, according to analysis by KPMG. The quarter was almost entirely a period of lockdown, with government measures having a dramatic impact as consumer spending plummeted. Blair Nimmo head of restructuring at KPMG, said a sharp rise in insolvency numbers should be expected in the coming quarter. “Businesses are emerging into a quite different landscape…” Read more