In their recent report entitled “Insolvencies: Tip of the Iceberg” Euler Hermes have predicted that UK Corporate insolvencies are likely to rise by 5% during 2017, citing factors such as the global economic slowdown and depreciation of the pound as being the principal drivers behind the anticipated trend.
The report, published in December 2016 also references a 50% drop in capital flows and mergers and acquisitions in November 2016 when compared to the same month in 2015, considering these to be a clear indication of a fall in confidence following the Brexit vote.
“Whilst it is too early to say with any confidence whether Euler Hermes will be proved right in their forecasting, we have seen an increase in terms of new client instructions and enquiries during January” said Stephen Wainwright, partner of Poppleton & Appleby.
When asked what advice he would give to businesses concerned about the future he responded, “No matter where we are in the economic cycle, the advice remains the same: get help as soon as you are aware of a problem. The earlier discussions are held, the more options a business has to enable it to adapt to the changing business conditions and ensure its survival.”
Poppleton & Appleby offer a free consultation to businesses who are facing financial difficulties. Through their extensive network of finance contacts they are able to explore refinance options to give their clients the fullest range of options available. All consultations and subsequent assignments are led by one of the Partners who maintain a “hands-on” involvement throughout each scenario, whilst being supported by experienced case managers and support staff.
If you would like further information or to arrange a consultation, then please contact a member of the team on 0161 228 3028 for fast, friendly advice.