What is insolvency of critical suppliers
The public sector uses lots of different suppliers for services such as IT, banking and medical sterilisation. Sometimes those private companies can close down, which is known as insolvency. This can therefore have an impact on the essential public services that rely on those private companies.
This risk is mitigated through ongoing work with public sector providers to ensure they maintain capability and capacity to support and deliver essential services. There is also a requirement for corporate resolution plans for suppliers of the most critical contracts across government.
Whilst there are plans in place to prevent the insolvency of suppliers to critical services, it’s important to prepare for if this does happen.
Local risk rating: High
What does the Local Resilience Forum do to prepare?
Many of the agencies in the Local Resilience Forum have plans in place to ensure that emergency services can still operate during a range of supplier insolvency.
Individual agencies within the Local Resilience Forum have stocks or alternate suppliers in place to ensure they can continually function and provide support to the local community in times of supplier insolvency.
Associated risks
- Industrial Action fuel supply
How can you prepare?
Stay up to date with local and national news
Follow guidance provided by national government
Insolvency affecting fuel supply
Reduce your fuel usage by combining trips, carpooling, or using public transportation
Avoid unnecessary trips
Consider other modes of transportation
Stay up to date with local and national news
