‘Extended insolvency protections will prolong the inevitable insolvency cliff’
A decline in voluntary administrations, coupled with the government’s recently announced extension of temporary insolvency and bankruptcy protections, is causing a backlog of cases that will result in a tsunami of liquidations in the future, an expert has warned.
New data from Prushka Fast Debt Recovery has revealed a significant decline in the number of liquidations and administrations since April this year, with voluntary liquidations down by a staggering 53 per cent year-on-year between June and August.
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