The latest results from the Office for National Statistics (ONS) shows economic growth in the UK of 0.3% during the quarter ending August 2019. However this includes a contraction in the economy during August itself of 0.1%.
It will be of little surprise to readers that the manufacturing industry has performed poorly, with the service industry remaining strong, with particular buoyancy within the TV and Film industry.
“Services provided [the] majority of the growth over the three months, with production and manufacturing falling back,” said Rob Kent-Smith, head of GDP at the ONS.
This means that the UK has avoided falling into a recession, but how will this affect insolvencies throughout the UK?
At T H Finacial Recovery we handle both informal and formal insolvency work, including:
Business Assessment and Restructuring, New Funding Options, Creditor negotiation and time to pay arrangements, Company and Individual Voluntary Arrangements (CVAs & IVAs), Administration, Liquidation, Bankruptcy.
If you wish to make an appointment to discuss any aspects of finance give us a call to arrange a FREE, no obligation consultation. Tel: 01282 332222