Report: Expect Surge of UK Business Failures in 2010
Evidence is mounting that the UK is at the mid-point of a ‘W’-shaped recession, so brace yourself for a “deluge” of business failures in 2010, Begbies Traynor, a business recovery and restructuring firm, warned in a report released yesterday.
The report, which focuses on Q3 2009, points out that statistics from recessions over the past 40 years confirm that insolvencies peak between one and two years after GDP stops shrinking. This time around, scarce credit post-recession may intensify this effect, causing a substantial rise in insolvencies during 2010 and into 2011. (more…)
