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Firms ‘brace’ for insolvency storm to hit home, warns Begbies

Ric Traynor, executive chairman, said with nearly all sectors experiencing a ‘deterioration of their financial position’ since the last quarter, the ongoing supply chain issues and a 30‐year record for inflation are ‘less than ideal’ for companies that have already been hard hit by the pandemic.

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Businesses are now braced for the insolvency storm to “hit home”, with those reporting ‘significant financial distress’ up 5% during final quarter of 2021 to 589,168, according to Begbies Traynor’s latest Red Flag Alert research.

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