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The companies that collapsed into administration in the South West in 2020

A total of 109 businesses in the region became insolvent in a year blighted by the pandemic

Bath city centre (Image: Bath Chronicle)

The Government’s 海角视频 support measures prevented swathes of South West companies falling into administration in 2020 amid the pandemic, new analysis has revealed.

The number of firms collapsing in the region fell to a historic low last year, according to a review of notices in The Gazette - the 海角视频’s public record site - by big four advisory business KPMG.

The firm defined the South West as the region stretching from the Thames Valley to Cornwall, including Reading, Southampton, Eastleigh, Exeter, Salisbury, Bristol, Bath and Taunton.

The report showed that 109 companies across this area went into administration in 2020, compared to 149 in 2019 - a drop of 26.8%.

The industries accounting for the lions’ share of insolvencies were manufacturing (14), construction and building development (12), and retail (7).

Nationally, 1,112 companies went into administration over the course of last year – the lowest annual total since KPMG started tracking the data in 2005, and a fall of 22% on 2019, which saw 1,425 administrations.

The retail sector, in particular, has been hit hard by the pandemic, with dozens of big-name chain stores collapsing into administration last year.

Sarah Collins, restructuring lead for KPMG in Bristol, said: “Comfort can be taken from the fact that fewer businesses than expected have been forced into insolvency during the crisis, as the breadth and depth of support measures available, coupled with a supportive lending community, have given organisations that vital lifeline.