Published 2 days ago

Record jump in number of firms in financial distress: Study

There has been a record jump in the number of UK businesses in critical financial distress, reaching 46,583 companies, according to insolvency experts at Begbies Traynor.
The number of businesses in significant financial distress rose by 3.5% from the prior quarter, totaling 654,765 companies.
Ric Traynor, Executive Chairman of Begbies Traynor, stated that many distressed UK businesses are finding it almost impossible to navigate challenges as they start 2025.
Neil Bellamy, Consumer Insights Director at GfK, noted that consumers are losing confidence in the UK's economic prospects, indicating negative expectations for the future.

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