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Manolete Partners

Rise in firms at high risk of insolvency despite greater optimism

UK firms are beginning to feel more optimistic about the outlook as coronavirus lockdown restrictions ease but increasing numbers of companies are at high risk of going bust in the fall-out from the crisis, according to a report.

The latest business distress tracker from Opinium and economics consultancy CEBR (the Centre for Economics and Business Research) found more businesses have a positive outlook for the next year than those with a negative view for the first time in a sign of hope for Britain’s battered economy.

Half of manufacturers and construction firms surveyed said they believe current trading conditions are good thanks to restrictions being lifted in those sectors first.

With lockdown still in place for many retailers and services firms, just 28% of those in that sector said trading conditions were good.

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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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.