The Bank of England has forecast that the UK economy will shrink by 14% in 2020, representing the worst recession in 300 years. The current pandemic has had a devastating impact on businesses of all sizes, on a scale not seen since the Great Recession of 2006 to 2009.
It has been widely reported that businesses in the retail, travel and leisure sectors have had their profits decimated by the pandemic. Business clients will be anxious to understand how they should proceed during these uncertain times. Many will, for the first time, be contemplating the dreaded 'I' word – insolvency.
Zaid Dadah appears in the Solicitors Journal outlining the temporary measures introduced by the Government designed to avoid business failure as a result of Covid-19.
Will the new temporary measures brought in by the Government help businesses avoid failure as a result of Covid-19? is available to read on the Solicitors Journal website via subscription.
Zaid is an associate in the insolvency team.