UK facing ‘flood’ of bankruptcies over coming months, says ONS

Almost 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.

Manolete Partners (LON:MANO) work alongside IPs from all of the “Big Four” through to one and two partner specialist insolvency and restructuring practices in the regions. Manolete finances the work of the Insolvency Practitioner and their lawyers to make optimal recoveries for the creditor estates and takes on all the risk.

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