The number of ailing businesses in Wales stands at more than 17,000, according to latest figures from insolvency firm Begbies Traynor. Its latest Red Flag Alert report, which monitors the financial health of British companies, show the number of distressed Welsh firms (17,383) in the last quarter of 2022 decreased by 1% on the previous quarter while being up 1% on a year earlier.
Despite the overall flat picture, the data indicates there has been no material let-up in the turmoil and financial distress being faced and identified specific sector hotspots where businesses are particularly struggling.
The businesses most affected are in the real estate and property sector, with a year-on-year increase of 12% in the number of companies in significant financial distress. This was followed by media, which saw an annual jump of 6%.
