BusinessBusiness RecoveryUK at risk of mass business failure

UK at risk of mass business failure

Indicators point towards a rise in business failures, warns Begbies

Begbies Traynor
has warned that business insolvencies could be set to leap after winding-up
petitions rose sharply during the winter.

The firm’s figures show that winding up petitions, the last step before
insolvency, increased dramatically in the last quarter of 2006 compared to the
year before.

‘After a long period of stable low interest rates and an expansion in the
availability of external finance, the pressures on struggling UK businesses now
seem to be mounting,’ said Ric Traynor, executive chairman of Begbies.

‘There is an inexorable slide towards insolvency if the issues faced by those
businesses are not addressed beyond simply borrowing more money and hoping for
better times.’

Further reading:

Insider Business Club: business recovery
& turnaround

Insolvency specialists anxious as corporate failures
dwindle

Related Articles

Carillion CFO blew whistle over 'sloppy accounting' months before collapse

Business Recovery Carillion CFO blew whistle over 'sloppy accounting' months before collapse

3m Alia Shoaib, Reporter
Toys R Us UK and Maplin enter into administration after failing to secure buyers

Business Recovery Toys R Us UK and Maplin enter into administration after failing to secure buyers

3m Alia Shoaib, Reporter
How to avoid a Carillion collapse

Business Recovery How to avoid a Carillion collapse

4m Russell-Cooke
Carillion collapse: The week so far and industry reaction

Business Recovery Carillion collapse: The week so far and industry reaction

4m Emma Smith, Managing Editor
Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

Business Recovery Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

4m Emma Smith, Managing Editor
Carillion: PwC appointed as special managers – what happens now?

Business Recovery Carillion: PwC appointed as special managers – what happens now?

4m Emma Smith, Managing Editor
Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

6m Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

6m Emma Smith, Managing Editor