The North East has seen more firms become critically distressed than anywhere else in the country, new research has found.
Between the final quarter of 2021 and the first quarter of 2022, the region experienced a 107% increase in companies in the bracket, which means they've had county court judgements of more than £5,000 filed against them.
Research in Begbies Traynor's Red Flag Alert report highlights the curtailment of Covid support measures, the demands of repaying loans and spiralling costs as key reasons behind the rise.
