Insolvency specialist Begbies Traynor has notched up 10 years of growth in a row as profits nearly doubled amid a surge in larger scale company failures.
The group said it was seeing trading in its business recovery and advisory division – which accounts for 55% of group revenues – boosted by larger and higher value insolvencies.
This helped the firm’s business recovery arm deliver a 5% rise in revenues to £83.7 million over the year to April 30 despite a slight fall in the number of corporate insolvencies more widely across the UK.
Official figures showed there were 23,969 corporate insolvency appointments in the year to April 30, down from 25,408 the previous year.
The total number of administrations – typically…