for 20 years not one English council issued a Section 14 notice (akin to bankruptcy):

But that was pre austerity & covid

2018 - Northamptonshire County Council issued notice

2020 - Croydon council issued notice

now TWELVE councils in rescue talks https://www.ft.com/content/600882a5-51cd-43bb-8f6f-c8283b4a7000

and public sector finance chief @RobWhiteman estimates that the true figure could be much much higher:

“I think personally there are more than 12,” Whiteman said in a hearing by the MHCLG select committee.

“I think 12 probably is the tip of the iceberg.”

you’ll hear a lot of talk about some councils borrowing to make risky investments in commercial property, where rents have plunged because of pandemic:

but the removal of £15bn of annual government funding since 2010 may be a rather more salient factor here....