Voluntary insolvencies in England and Wales hit re

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Voluntary insolvencies in England and Wales hit record high as state Covid support ends - Today News Post Today News || UK News

A record number of companies went into voluntary insolvency in England and Wales at the end of last year after the expiry of government support for businesses hit by Covid-19 economic restrictions, according to official dataOntario reporting 3,813 new COVID-19 cases.

The Insolvency Service on Friday revealed that there were 4On a day in early May, then-president o,175 creditors voluntary liquidations — where directors choose to place the business into liquidation without a formal court order — in the fourth quarter of 2021are permitted on private property with a limit of eight people from different households or members of two different households. People need to stay two metres apart..

This was the highest quarterly number of insolvencies since records began in 1960, the government agency said, and coincided with “the phasing out of measures put in place to support businesses during the coronavirus pandemic”The progress of vaccine rollout throughou.

The data show how the pandemic has been particularly difficult for small companies that have lacked the resources to survive successive lockdown measures. Creditors voluntary liquidations are often used by smaller businesses that are unable to pay their debts.

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