Globally, business insolvencies are expected to jump 15% on year in 2022 following two consecutive years of decline, said trade credit insurer Euler Hermes.
Business insolvencies are set to rise in 2022 as governments withdraw support measures that have helped companies stay afloat during the Covid-19 pandemic, research by Euler Hermes found. Globally, business insolvencies are expected to jump 15% on year in 2022, the trade credit insurer said in a Wednesday report.
Even with the expected increase in 2022, overall insolvencies will likely remain 4% lower than in 2019 — before Covid spread globally, said Euler Hermes. Pedestrians wearing protective masks walk past an out-of-business sign outside a retail store in Harlem, New York City on August 25, 2020.Business insolvencies are set to rise in 2022 as governments withdraw support measures that have helped companies stay afloat during the Covid-19 pandemic, according to a new report by trade credit insurer Euler Hermes. Globally, business insolvencies are expected to jump 15% on year in 2022, Euler Hermes said in a Wednesday report. That projected increase follows two consecutive years of decline: insolvencies dropped 12% on year in 2020 and is forecast to fall by another 6% in 2021, said the insurer. Even with the expected increase in 2022, overall insolvencies will likely remain 4% lower than in 2019 — before Covid spread globally, said Euler Hermes. "Looking at insolvency levels, governments succeeded in helping companies face the crisis: massive state intervention prevented one out of two insolvencies in Western Europe and one out of three in the US in 2020," said Maxime Lemerle, head of sector and insolvency research at Euler Hermes. "Their extension will keep insolvencies at a low level in 2021, but what happens next depends on how governments act in the coming months," he added.
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