Company insolvencies set to worsen in 2010

Begbies Traynor, the insolvency specialist behind the figures, warns although these statistics were better than at the peak of the crisis, they will most likely worsen again by the end of the year.  This is due to the fact unemployment levels and corporate and personal insolvencies generally lag technical recessions by one to two years. The situation will be exacerbated by the imminent end of the ‘time to pay' scheme. Introduced by the Goverment last autumn, the scheme enabled over a quarter of a million businesses to delay making payments on their tax bills for between three and six ...