UK: Small Businesses Consider Insolvency To Escape State Covid Loans

Small businesses in the UK are seeking advice on ways to escape dangerous levels of debt built up in government-backed loans during the Covid-19 pandemic, with some considering prepack administrations.

The high percentage of companies with toxic debt across sectors and the rising debt of corporate UK is alarming,” said Palmer. Company insolvencies rose to 1,446 in September, up by 100 from August and 56 per cent higher than the same month last year, according to the Insolvency Service.

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