Press Releases
More than 47,000 UK businesses start 2024 on the edge of collapse after critical financial distress jumps over 25% again
As we start 2024, the latest Begbies Traynor “Red Flag Alert” report, which has provided a snapshot of British corporate health for over 15 years, highlights the speed at which critical financial distress is growing in the UK after the second consecutive quarter of c.25% growth.
Deal saves 28 skilled jobs and strengthens black country steel industry
A long-established Black Country metal finishing business has been sold out of administration, safeguarding the jobs of 28 skilled workers.
4500 UK retailers face an uncertain New Year as the cost-of-living crisis bites before Christmas
With Christmas just around the corner, new data from leading insolvency firm, Begbies Traynor, covering the first 10 weeks of Q4 2023 (1 October to 14 December), has revealed the full impact of the current economic environment on the retail sector in the UK.
Iconic music venue ceases trading in Bath
A long-established Bath nightclub ceased trading on Monday (4th December), and Begbies Traynor was engaged on Monday 11 December 2023 to assist with the liquidation of the business, which has seen all 26 members of staff being made redundant.
70 jobs saved at Module-AR
The business and assets of a company, specialising in modular building construction, have been acquired out of administration, safeguarding more than 70 jobs.
25% Rise in Critical Financial Distress Pushes Almost 40,000 UK Companies Towards Insolvency
The latest Begbies Traynor “Red Flag Alert” report, which has provided a snapshot of British corporate health for the past 15 years, paints a worrying picture for UK businesses as nearly 40,000 companies are revealed to be in a critical financial situation as the pressure of higher interest rates, resilient inflation and weaker consumer confidence take their toll. These pressures are now clearly being seen beyond consumer facing sectors and are becoming widespread, particularly within the construction and property sectors.
Number of North West firms in ‘significant’ financial distress teeters on 50,000
New data released today by Begbies Traynor reveals the number of North West firms operating on the brink is now close to 50,000 as business challenges mount up for SME’s.
Number of Lancashire firms in ‘significant’ financial distress tops 9,000.
New data released today by Begbies Traynor in Preston reveals the number of Lancashire-based firms operating on the brink has risen to more than 9,000 as business challenges mount up for SME’s.
Number of Merseyside firms in ‘significant’ financial distress teeters on 5,000
New data released today by Begbies Traynor in Liverpool reveals the number of Merseyside firms operating on the brink is now close to 5,000 as business challenges mount up for SME’s.
Historic Sheffield manufacturer of precious metal alloys placed into administration
Thessco Ltd, manufacturers of brazing alloys and contact materials since 1760, was placed into administration on 26th October 2023 with Joanne Hammond and Kris Wigfield of Begbies Traynor appointed as joint administrators.
Begbies Traynor gets ready for the Big PNE Sleep Out 2023
Staff from Begbies Traynor in Preston joined up with representatives from The Foxton Centre today to promote their participation in the Big PNE Sleep Out 2023.
Rough economic terrain takes toll on leading motocross dealership
Difficult trading conditions have forced one of the UK’s largest off-road motorcycle dealers to close its Salisbury branch, resulting in the loss of five jobs.
Harrogate family take on Kilimanjaro challenge to raise money for local charity
Harrogate resident Richard Pughe and his family are in training for an expedition to the summit of Africa’s highest mountain, Tanzania’s Mount Kilimanjaro - to raise money for local charity Artizan International.
Love Lane Brewery Ltd enters administration, but Love Lane Brewery Bar & Kitchen continues
A popular Liverpool-based brewery which saw its beer served at the 151st Open golf tournament at Royal Liverpool over the summer has entered into administration.
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