500,000 businesses in ‘significant’ financial distress
Almost half a million businesses are now in significant financial distress, a 40% increase in the three years since the EU referendum, according to Begbies Traynor, which warns that Brexit stagnation and macroeconomic factors are creating a ‘perfect storm’.
The firm says there are 489,000 UK businesses in significant financial distress, up by 139,000 since the 2016 vote. Over the past year the number of businesses with this rating has increased in 20 out of the 22 sectors its research monitors, suggesting this deteriorating financial performance is affecting a broad spectrum of companies.
Read more at the Accountancy Daily.