Record number of businesses face Covid-19-induced insolvencies

A record number of businesses are on the brink of collapse due to the pandemic

A record number of businesses are on the brink of collapse due to the pandemic

A record number of businesses are on the brink of collapse due to the pandemic

A record number of businesses are on the brink of collapse as the coronavirus pandemic wreaks havoc on the economy. 

More than half a million firms are in significant financial distress, according to the latest Red Flag Alert report from insolvency experts Begbies Traynor. 

The 6 per cent rise in significantly distressed businesses between the second and third quarters of this year, to 557,000, was the biggest quarterly increase since 2017. 

It is the largest number of businesses which have found themselves in such dire straits since Begbies began publishing the report in its current form in 2014.  

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