Businesses across the UK have battened down the hatches since the start of the year, holding back investment for growth and initiating recruitment and pay freezes as they await the outcome of May’s General Election, resulting in a state of stagnation across all areas of the economy, warns business recovery specialists Begbies Traynor.
In just the second season in which football clubs’ accounts have come under the scrutiny of the Financial Fair Play (FFP) rules, the health of English league clubs has improved significantly, reversing last year’s rise in distress.
The Begbies Traynor Red Flag Alert Football Distress Report provides annual snapshots of financial distress in 72 English and 32 Scottish football clubs. South of the border, the report’s latest figures reveal that just three clubs in the English Championship and Leagues One and Two are suffering from serious financial distress.
Historically low oil prices are already pushing smaller oil extraction and services companies into significant distress, before the impact of substantial cuts to the capital expenditure budgets of the major oil companies.
The number of smaller food suppliers experiencing financial distress has more than doubled this year
The latest report into the financial health of Scotland’s football clubs shows a picture of financial stagnation and declining match attendances, with gloomy economic prospects for one in ten of the clubs in the top three Scottish divisions.
In the first season in which football clubs’ accounts have come under the scrutiny of the Financial Fair Play rules, the overall health of English league clubs has deteriorated, according to a report issued today.
More than 2,600 SMEs in the sector struggle to survive as consumer spending habits evolve
According to the latest Begbies Traynor Red Flag Alert for Q1 2014, which monitors the financial health of “Corporate UK”, levels of ‘Critical’ financial distress among UK businesses has decreased by 7% year on year, from 3,283 in Q1 2013 to 3,063 in Q1 2014. Construction, financial services and travel & tourism saw some of the largest declines in distress, falling 15%, 31% and 11% respectively.
New research from Begbies Traynor, the UK’s leading independent insolvency practice, today reveals the towns and cities in the UK with the highest levels of corporate financial distress. The research, undertaken using the Red Flag Alert dataset, alarmingly reveals that as the beleaguered south west struggles with severe weather and flooding many of the region’s coastal towns are topping the financial distress league table.
According to the latest Begbies Traynor Red Flag Alert for Q4 2013, which monitors the financial health of “Corporate UK”, levels of ‘Critical’ financial distress among UK businesses continued to recover during the final quarter of 2013, as improving business confidence drove strong growth across the UK’s core services sectors and encouraged growing numbers of entrepreneurs to incorporate new businesses during the past year.
This Christmas, retailers across the country are succumbing to the cold as Austerity Britain gets into full swing, according to the latest research from Begbies Traynor, the UK’s leading business recovery practice.
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