More than 500,000 UK Companies in Significant Financial Distress
Posted in Accountants, Business News Yorkshire, Cash Flow, Coronavirus, Coronavirus Update, Corporate Accountancy, Finances, Government, HMRC, Langricks, Manchester Business, Michael Bell and Co, Payroll, SME, SME Businesses
509,000 UK companies are in significant financial distress—the highest number ever measured. The coronavirus lockdown has seen the largest quarterly increase in the number of businesses in significant distress since the end of 2017, growing by 15,000 companies. This figure is expected to increase throughout Q2 as COVID-19 restrictions continue. The number of critically distressed…