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Increase in Corporate Insolvencies

01 July, 2011

According to the credit risk analysts Graydon UK, corporate insolvencies are due to increase this year, even though business insolvencies are due to decrease 6% in the second quarter as compared with a year ago.

Gordon Skaljak, marketing director at Graydon UK, said that this was the first indication of the long expected upward swing in businesses failures that has traditionally followed a downturn.

The HMRC has announced that it will not publish figures on the deferral ‘Time to Pay’ scheme after July, indicating that perhaps the scheme is winding down and the removal of this support is likely to make it increasingly difficult for businesses to keep their heads above water.