Businesses face significant financial distress

About 630,000 businesses were experiencing significant financial distress as they entered the third national lockdown, according to new research, further underlining the economic damage being wrought by the pandemic.

In the final three months of last year there was a 27 per cent increase in companies suffering a marked deterioration in key financial metrics such as working capital, contingent liabilities and retained profits, or having county court judgments (CCJs) filed against them, compared with the same period in 2019.

Source: The Times
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