The British financial sector is expecting a wave of bankruptcies among individuals and small and medium enterprises (SMEs) beginning as early as this fall, as the government help during the COVID-19 pandemic runs out, along with the end of government support for furloughs and rent deferrals. This will put up to 3 million jobs at risk and 780,000 SMEs in danger of bankruptcy, according to a report issued today by TheCityUK Recapitalisation Group.
A similar scenario is facing the United States beginning late July and into the early fall.
