We’re in the middle of the worst global pandemic in a century, that is causing millions of deaths and making tens of millions sick.
It claims its data shows the insolvency rate for 2020 was actually down 10.7% in 2020 compared to 2019. According to Deloitte, protection from creditors has also been improved through an increase in the minimum level of debt from €20,000 to €50,000 necessary for a 'winding up petition’, beginning in August last year.Debt levels in general were not unmanageable, parts of the corporate sector were sitting on health savings and the economy was doing quite nicely.
There is little public sign yet of banks moving in great numbers on non-performing loans, although it is only three months since the formal payment break scheme agreed by the country’s main banks expired. That means that many other trade creditors have to date "pulled on the green jersey" and shown forbearance, although there have been exceptions, particularly when it comes to the some commercial landlord for example.
willgoodbody Wonder how many will close down due to covid + brexit implications
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