UK firms in ‘critical distress’ jump a third as costs surge

The survey found that hotels and accommodation firms had the highest level of distress (Alamy/PA) -

The number of UK businesses in “critical financial distress” has jumped by more than a third amid fresh pressure linked to the conflict in the Middle East, according to new research.

Hotels and leisure firms are in particular distress after facing higher labour costs and taxes over the past year, latest research from Begbies Traynor Group (BTG) has shown.