Administration List has revealed that there was a 68 per cent (68.8 per cent) increase in the number of insolvent businesses listed on the site in July 2020.

Despite a series of government loans and grants to help ailing businesses, it is clear that the fight against the financial fallout of the COVID-19 pandemic may only go so far. Just last month, 154 businesses were listed as insolvent — a far cry from the 260 insolvencies in July.

Retail and construction continue to lead the way, recording 81 and 47 insolvencies respectively.

Report of companies listed with Administration List as having appointed administrators or liquidators during July 2020. Data from www.administrationlist.co.uk

This data comes as part of Administration List’s ongoing efforts to monitor insolvencies across the country to track the impact of the pandemic on our economy.

The gap between administrations and liquidations widened in July, with 57 administrations to 202 liquidations.

Report of companies listed with Administration List as having appointed administrators or liquidators during July 2020. Data from www.administrationlist.co.uk

Comment:

Stephen Ideh, Director of Administration List, commented:

“As lock-down measures eased after a near three-month pause in trading, it appears many businesses operating in the retail and construction sectors were unable to envisage an economically sound trading environment.

“Though the Chancellor’s measures have helped companies’ cashflow problems, a new landscape in geopolitics has – almost overnight – created an economy built on arriviste diversification and opportunism that only the most prophetic of technology companies have profited from. It remains to be seen how well other industries will adapt.”

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About Administration List

Founded in 2017, Administration List provides information to its subscribers on distressed businesses in the UK.

Subscribers have access to data including details of administrations and liquidations, administrator contact details and the company’s financial records all in one place.