More than half a million UK companies are in “significant” financial distress, and more than 40,000 in “critical” distress, according to insolvency experts Begbies Traynor’s latest “red flags” report.
The report found that 554,554 companies were in distress, up more than 30% from last year, and up a little from the fourth quarter of last year.
The number of firms in “critical” distress was slightly lower than at the end of last year, but still very high by historical measures at 40,174.
High interest rates have been a challenge for businesses, as borrowing becomes more…
