UK facing 'flood' of bankruptcies over coming months, says ONS

Two-thirds of UK businesses were at risk of insolvency last month, according to official figuresCoronavirus – latest updatesSee all our coronavirus coverageAlmost two-thirds of all businesses could be at risk of insolvency, according to official figures that reveal the UK could suffer “a flood” of bankruptcies over the coming months.The Office for National Statistics (ONS) said that 64% of businesses across all industries were at risk of insolvency last month, with 43% of companies running on less than six months’ cash reserves. Continue reading... https://www.theguardian.com/business/2020/oct/28/uk-facing-flood-of-bankruptcies-over-coming-months-says-ons #business #bankruptcy_and_ivas #office_for_national_statistics #uk_news #economics #coronavirus