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UK insolvency levels will continue to rise through 2018 - Euler Hermes PDF Print E-mail
Friday, 27 October 2017
Katharina Utermoehl, Senior Economist for Europe at Euler Hermes, the world’s leading trade credit insurer, said:   “We expect UK insolvencies to rise by five per cent this year, and a further six per cent in 2018. British businesses face a combination of slowing consumer spending, cooling investment activity - domestic as well as foreign - plus a further depreciation of sterling, all of which will ramp up the pressure on payment terms and profit margins.  

“Looking further ahead, a transition deal between the UK and the EU, at the very least, will prevent a sharper rise in business failures. We forecast the number of UK bankruptcies to surge by 15 per cent in 2019 in a no-deal Brexit scenario, compared to just three per cent with a transition agreement in place.”

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