Thousands of companies in the South West found themselves in "significant financial distress" in the second quarter of 2022, new research has revealed.
Some 39,831 firms in the region were struggling between April and June - a similar number (39,775) to the first quarter - according to the latest figures from Begbies Traynor’s Red Flag Alert report, which monitors the financial health of British companies.
From a sector perspective, travel and tourism saw a 5% quarterly increase in distressed companies, which was also up 9% on the same period last year.
