An article in Accountancy Age today highlights the strangely quiet world of insolvency in the UK.
At a recent Pinsent Masons conference over 450 practitioners and staff were questioned on their expectations for the insolvency market in the next 12 months. Over one third predicted a rise in insolvency appointments.
Well they would, wouldn't they!
Seriously though, experience shows that once a recession has firmly ended and a recovery begun, the number of insolvency appointments rises quickly as "zombie" or failing companies are closed down and assets and businesses sold to stronger players.
So we guess that, with two thirds of respondents NOT expecting a rise in appointments, a firm recovery is not expected either?