The number of companies facing “critical problems” surged by more than a quarter between the first and second quarter of the year as tightening credit conditions continued to bite, according to Begbies Traynor, the corporate insolvency and restructuring specialist. Year-on-year comparisons in the company’s Red Flag Alert survey show a near eightfold rise in financially troubled companies in the second quarter. The survey showed 4,258 companies facing winding-up petitions from creditors or county court judgments in excess of £5,000, compared with just 542 in the same period a year ago. Quarter-on-quarter, the number of companies facing critical problems increased by 29 per cent. More

Sphere: Related Content

Posted by markw, filed under Finance. Date: July 22, 2008, 2:32 pm |

One Response

  1. » Critical financial problems spreading Says:
    July 22nd, 2008 at 3:25 pm

    […] The Finance Bee wrote an interesting post today onHere’s a quick excerptThe number of companies facing “critical problems” surged by more than a quarter between the first and second quarter of the year as tightening credit conditions continued to bite,… [[ This is a content summary only. Visit my website for full links, other content, and more! ]] […]

Leave a Comment

Your comment

You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.