Financial distress deepens but administrations decline
The number of UK businesses now in significant financial distress has jumped by 13%, but administrations last year fell to historic lows as government support measures offered a pandemic lifeline for many companies.
Begbies Traynor’s red flag alert research has recorded 630,000 businesses in 'significant distress' after the largest numerical quarterly leap (73,000) in financially distressed companies since Q2 2017. This 13% increase (from 557,000 in Q3 2020) comes as the UK is plunged into another nationwide lockdown.
Read more at Accountancy Daily.