COMPANIES AT RISK of collapsing are increasing every month according to research compiled by RSM Tenon.
The firm found companies at high risk of going under increased each month by 3%, compared to the previous quarter, for the last three months.
“We may be out of recession, but high oil prices, the beginnings of inflation and the dampening effect of public sector cuts are all having an effect on UK business,” said Carl Jackson, head of recovery at RSM Tenon.
The Traffic Light report measured the danger of individual companies becoming insolvent.
Property companies have been particularly hard hit, with a 17% rise in those at high risk of insolvency in April compared to March.
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