Following the Chancellor’s Budget back in March, the scale of the shock to the UK economy as a result of covid-19 is now clear. Covid-19 is now estimated to have reduced gross domestic product (GDP) by as much as 10% in calendar year 2020.

And yet despite this apparent doom and gloom, corporate insolvencies appear to tell a different story. The latest figures from the Insolvency Service report corporate insolvencies fell by 9% to 686 in February 2021 compared to January’s figure of 754 and 49% lower than February 2020’s figure of 1,348. 

I