The statistics reveal some bleak but interesting findings showing the status of the current UK economy.
A further report by Insolvency firm Begbies Traynor indicated that the amount of businesses in ‘significant financial distress’ [by their Red Alert showing businesses with CCJ’s of less than £5,000 against them] had increased to 494,000 in 2019 specially for the sectors of real estate and property, support services, construction and retail sectors.
If you need help or advice in either considering entering into insolvency or bringing insolvency action against a debtor, our expert team can help. Whether a one-off case or a substantial debt portfolio, we offer a one-stop-shop for businesses suffering from late payments, including pre-legal collections right through to post insolvency action.
For further information, please contact us.