UK: 509,000 Businesses on the Brink of Collapse are the “Tip of the Iceberg”

To put this into context, consider that suicides in the UK appear to have increased during the lockdown, and that the government there estimates that about 150,000 will die as a result of the lockdown itself and not because of the virus.

Things are going to get even worse.

Daily Mail:

A record 509,000 British businesses are teetering on the brink of collapse as the coronavirus crisis begins to bite.

But this figure from the first three months of 2020 is likely to be just the ‘tip of the iceberg’, claims insolvency specialist Begbies Traynor, as it only reflects the start of the Government-imposed lockdown in March.

It is pretty safe to say that those 509,000 business that are on the brink of collapse won’t be decreasing their chances of collapsing as the lockdown continues.

Their collapse will likely collapse other businesses that are somehow connected to them or that depend on them.

Suicides are going to skyrocket because of the lockdown and the destruction of the economy.

It is going to be a chain reaction of death, roughly speaking.