Cost of stopping the Coronavirus, page-115

CreditorWatch chief executive officer Patrick Coghlan said thousands of firms that would ordinarily have shut their doors and been forced to pay back their creditors are still alive thanks to government support programs including changed insolvency laws.

Mr Coghlan said every year between 8000 and 9000 firms were put into administration but figures for March, April and May show a sharp drop in insolvency actions despite the economy going through its toughest period since the Great Depression.