Published on Friday, January 6, 2017
A report coming out later this month will show that nearly four in 10 travel companies are now in ‘significant’ financial distress.
Data analysed by insolvency firm Begbies Traynor found 2,679 businesses in the travel sector – thought to be made up of around 7,000 companies – were experiencing significant distress in the last thee months of 2016.
This was a 10% rise on the previous quarter and a 4% rise on the same quarter last year.
Of these, 33 were deemed to be in ‘critical’ distress, a 10% rise the previous quarter and 18% higher than the previous year.
Regional managing partner Julie Palmer said it was a worrying trend and, just days after the collap…
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