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Tuesday, 8 June 2010

Begbies Traynor sees flat insolvency sales

Group expects higher profits are likely in current half year due to cost cutting measures that cost £800,000 to implement.

In a reflective press release, Begbies Traynor said that it “remains confident that the number of corporate insolvencies will rise as the economic cycle develops, consistent with historical patterns for insolvencies to lag the cycle.

“However, in the short term, we anticipate a continuation of the work volumes seen in the second half of the year ended 30 April 2010”.

With the Time to Pay Scheme (or the Business Payment Support Service) still providing support to hundreds of thousands of companies and small businesses, Begbies optimistic forecast for corporate insolvency rates may be thwarted by the Government's continued support for the BPSS?

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