Business distress may have stabilised in the first three months of this year, according to figures published today.
Analysis by independent business rescue and recovery specialist Begbies Traynor suggests the signs were there in quarter one, but those behind the work are warning the situation is likely to be dramatically reversed as the global economy starts to feel the devastating impact of the war in Ukraine and soaring energy prices.
The latest quarterly Red Flag Alert data from Begbies Traynor reveals a 19 per cent drop in ‘significant’ or early-stage distress in the Humber region, compared to the first quarter of last year when the country was in lockdown, and a 1 per cent fall compared to the final quarter of 2021. It was almost identical to the UK picture.
