1.8m firms at risk of insolvency amid Covid crisis


1.8m firms at risk of insolvency amid Covid crisis

Research by CEBR and Opinium estimates that 1.8m businesses could be at risk of insolvency as a result of pandemic-related disruption, including 336,000 that face a high risk of going bust. Just a third of companies reported positive trading conditions during January, according to the study. The 500 businesses polled said that profits had fallen by 18% over the past 30 days – compared to a 20% reduction in December. More than one in five respondents said that they would have to delay planned investments as a result of the latest lockdown. Three quarters expected to be able to return to pre-Covid levels of production within a year of restrictions being lifted. However, one in ten foresaw a more protracted recovery.


Read more: The Times

 

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