BIG RISE IN FIRMS ON BRINK

There has been a record rise in UK businesses in severe financial distress as companies find it almost impossible to navigate the challenges they face according to an insolvency specialist.

The number of businesses showing signs of critical stress rose by 50.2% quarter on quarter to 46853 in the final three months of 2024.

Begbies Traynor said. Its red flag alerts showed that construction companies were facing the most significant challenges with 6830 businesses showing signs of critical distress. Consumer sectors also reported a jump of 76% in financial for the leisure sector and 48% in general retailing.

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