U.K. Bankruptcies Set to Rise After Lockdown Measures End

Bankruptcy experts say that the number of U.K. insolvencies is likely to rise sharply as further evidence emerged of the damage being inflicted by the coronavirus lockdown.

The warning came after Insolvency Service figures showing that fewer companies went bust in the first quarter were dismissed as the calm before the storm.

In a separate release, the Office for National Statistics said two-thirds of U.K. firms have now applied for funds under a government program that pays 80% of the wages of furloughed workers. More than half of companies that continue to trade reported a drop in turnover between April ...