Rickesh Patel

Director

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News Coverage and Expertise

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Over half a million UK businesses fighting for survival as UK economy stagnates

The latest Begbies Traynor “Red Flag Alert” research, which has provided a snapshot of British corporate health for over 15 years, highlights the speed at which financial distress has accelerated over the last 12 months, with 554,554 UK businesses now in ‘significant’ financial distress – a 30.8% rise compared to Q1 2023. This deterioration now affects all 22 sectors covered by this latest research.

Haulage company in financial difficulty

The business was a group of haulage companies with an annual turnover of approximately £20 million and with approximately 150 employees. The core business was time critical delivery of weekly and monthly periodicals.

2023 – The covid financing hangover

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UK utility companies in hot water

The UK water industry operates in a complex operational and financial environment which has pushed the sector’s largest company, Thames Water, to the brink of insolvency and raised the prospect of a temporary government privatisation.