UK business failures on the rise
The percentage of companies that have declared bankruptcy in the United Kingdom between April and June reaches 5,629
The most recent report from the UK Office for National Statistics puts the number of companies that have filed for bankruptcy between April and June at 5,629. The figure far exceeds that recorded for the same quarter between 2015 and 2019, when the pandemic appeared.
The high costs of services, including gas and electricity, affect this decision of certain companies to declare insolvency, according to the ONS. The bureau adds rising prices for raw materials as well as disruptions to supply chains.
During the time that the Covid-19 pandemic has lasted, the British government has been implementing packages of financial support measures not only for companies but also for citizens.
However, in the case of companies with a workforce of less than 50 workers, the hardships have increased. It is estimated that among the most affected sectors is manufacturing, construction and hotels.
In August, according to a survey carried out by the ONS, at least 11 % of companies indicated that they perceived a risk, between moderate and low, of falling into bankruptcy.
M.Pino
Click the link to subscribe for free to our news and media group on Telegram: https://t.me/G_ELSUMARIO_News
Source: swissinfo
