Government spending saved 4,500 firms from collapse during Covid crisis, although PWC warns many are on ‘life support’


BUSINESS failures hit an all-time low last year as State supports saved 4,500 firms from going bust during the pandemic, according to a major new report by PWC.

ust 14 companies in every 10,000 went out of business in 2021, far below the annual average of more than 1,000 insolvencies per year, as wage subsidies, tax warehousing and moratoriums on rates and rents kept the wolf from the door.



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