Member Article
North East business owners are being warned of the dangers of trying to do too much too quickly as the economy begins to open up.
Alexandra Withers, North East chair of insolvency and restructuring trade body R3, was speaking after the latest corporate insolvency figures for England and Wales revealed a 45% month-on-month rise, from 685 cases in February this year to 992 last month.
She has highlighted the risk of companies becoming insolvent through overtrading, as they strive to make up for revenues lost through lockdowns, and find themselves having balance sheet and creditor liabilities which outweigh their assets, due to cashflow or payment problems.
And she is advising regional business owners to put shaping a susta…
Read the full article at: https://bdaily.co.uk/articles/2021/04/22/north-east-business-owners-advised-of-overtrading-dangers-as-corporate-insolvency-figures-rise
