Economics
Virus Tipped 15,000 U.K. Firms Into Distress in First Quarter
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More than 15,000 U.K. companies fell into “significant distress” in the first three months of 2020 as the virus shutdown took its toll on the economy, according to a quarterly survey published on Friday by insolvency specialist Begbies Traynor.
That’s the highest tally ever recorded by the survey and the largest quarterly increase since the end of 2017, bringing the total number of British companies falling behind on debts of up to 5,000 pounds ($6,220) to more than half a million.