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Insider UK
Insider UK
Business
Peter A Walker

Scotland sees 'dramatic rise' in failing businesses

Scotland United Kingdom Begbies Traynor

Scottish businesses are seeing a starker increase in 'advanced distress' than the rest of the UK during the second quarter of 2022.

This is according to recovery firm Begbies Traynor’s latest Red Flag Alert data, which shows that companies with financial problems such as decrees of more than £5,000 filed against them rose by 132% compared with the the second quarter last year, while the UK as a whole saw an increase of 37%.

It also revealed a 71% increase in this type of advanced distress in the country quarter-on-quarter, contrasted with a rise of 3% across the UK as a whole.

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