IN BRIEF: Begbies Traynor says UK companies in distress grows by 25%
19th Oct 2022 14:50
Begbies Traynor Group PLC - Manchester-based corporate rescue and recovery practice - The latest 'Red Flag Alert' report, which is compiled by Begbies Traynor, finds a 25% increase in the number of UK companies in 'critical financial distress' from a year before. The 2,090 of companies in this category in the third quarter of 2022 is up 6.8% from 1,957 in the second quarter. The increase is led by the industry groups Bar & Restaurants, General Retailers, Leisure & Cultural Activities, and Media. Begbies Traynor also finds 610,000 companies in the less-severe 'significant financial distress' category, up 8% on a year before and 4% from the second quarter. Read More