Eight times more companies are facing critical problems at the moment
compared to the same time last year.
4,258 businesses are now facing winding-up petitions from creditors or county
court judgments in excess of £5,000, compared with just 542 in the second
quarter of 2007, Begbies Traynor found.
The firm’s Red Flag alert also found that quarter-on-quarter, the number of
companies facing critical problems increased by 29%
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies