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Yorkshire businesses in critical distress fall 16.2 per cent

Summarised from 2 outlets · Updated 27 Oct, 12:14 · Archive

Critical financial distress among Yorkshire businesses fell 16.2 per cent to 3,007 in late September, but significant distress rose to 49,495.

The number of Yorkshire businesses in critical financial distress fell 16.2 per cent to 3,007 as of late September, according to Red Flag Alert research from BTG, a financial advisory group. This decline aligns with a UK-wide fall of 20.7 per cent. However, the picture is more mixed elsewhere: significant or early-stage distress among Yorkshire firms rose 1.7 per cent to 49,495, though this represents a marked slowdown from previous years when increases reached 33.5 per cent.

Julian Pitts, BTG's national managing partner for restructuring, said the figures offered 'some encouragement' with critical distress falling. However, he cautioned that more than 40,000 businesses in the region remained in significant financial distress. Businesses continue to face pressure from employment and operating costs, subdued demand and uncertainty ahead of the Budget. Pitts advised businesses concerned about their financial position to seek advice early, saying that identifying problems before they became critical could give them more options to protect themselves.

Yorkshire businesses in critical distress fall 16.2 per cent
Image: The Press (York)

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In this story: Yorkshire · BTG · Julian Pitts · United Kingdom

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