More than 16,800 Welsh businesses are in significant financial distress, according to new figures.
Financial advisory Begbies Traynor’s Red Flag Alert report, which monitors the financial health of British companies, found that 16,896 businesses in Wales were in significant distress in Q1 2022 - with a third of these businesses (4,941) in Cardiff and Swansea.
The figures represent a 2% decrease in the number of businesses struggling between Q4 2021 and Q1 2022, which was also a 24% year-on-year fall in the same period in 2021.
