More than 13,000 businesses in the West Midlands were in ‘significant’ financial distress during the second quarter of 2022, the latest Begbies Traynor’s “Red Flag Alert” report has revealed.
The region saw the number of businesses struggling between Q1 and Q2 2022 hold steady at 13,385 - a 13 percent year-on-year decrease on the same period in 2021, as costs continue to rise.
Some parts of the region, however, saw a rise in companies in distress between Q1 and Q2. Walsall saw a 4% rise, while Birmingham saw a 1% rise and Wolverhampton's figures were flat.
