The latest figures from insolvency specialist Begbies Traynor’s Red Flag Alert report reveals that 3,409 businesses involved in ‘architecture activities’ are in a state of ‘significant distress’, a 19 per cent rise compared with last year.
A further 529 business in ‘urban planning and landscape architectural activities’ find themselves in a similar position – an 8 per cent rise on 2024.
The report defines ‘significant distress’ as ‘undergoing significant financial and/or business difficulties’ where the company has a weak financial position and may be at risk of sliding into ‘critical distress’ and potential insolvency. A business may be able to trade themselves out of this situation, but is…