40,000 companies are close to collapse, insolvency experts say — These are the sectors most at risk

More than half a million UK companies are in “significant” financial distress, and more than 40,000 in “critical” distress, according to insolvency experts Begbies Traynor’s latest “red flags” report.

The report found that 554,554 companies were in distress, up more than 30% from last year, and up a little from the fourth quarter of last year.