More than 47,000 UK businesses on ‘brink of collapse’, warn insolvency experts
25% jump in firms facing critical' financial distress, with property and construction sectors featuring heavily, says Begbies Traynor
More than 47,000 UK companies are on the brink of collapse after a 25% jump in the number of businesses facing critical" financial distress in the final three months of 2023, according to a report.
It marks the second consecutive quarter-on-quarter period when critical financial distress has risen by a 25%, the latest Red Flag" report by insolvency specialists Begbies Traynor found.
Construction (7,849)
Support services (7,096)
Real estate & property services (6,228)
Professional services (4,347)
General retailers (3,133)
Telecoms & IT (2,830)
Health & education (2,719)
Media (1,828)
Financial services (1,373)
Food & drug retailers (1,343)
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