Uncertainty lingers over how many businesses could fold in the current restrictive credit climate, PwC says

PwC has warned that a gulf is forming between corporates despite evidence of a reduction in insolvencies.

Mike Jervis, partner in the Business Recovery Services practice at PwC, said: 'While companies have so far avoided formal insolvency, less credit-worthy corporates are finding it increasingly difficult to borrow at affordable rates in the current climate. There is still uncertainty as to how many businesses will fail as a result of the more restrictive credit environment.'

Jervis said that credit had been readily available to corporates until this summer and the downward trend in corporate insolvencies was a reflection of this.

PwC also commented on the drop in personal insolvencies, warning that there could be more to come.



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