The number of Dorset companies fighting for survival during June was up 39% compared with this time last year – although the overall number of county businesses in financial distress has slowed for the second consecutive quarter, according to figures released today by Begbies Traynor, the UK’s leading rescue, recovery and restructuring specialist.
A total of 2,605 Dorset companies showed clear signs of financial difficulty during the last quarter according to Begbies Traynor’s Red Flag Alert system, which tracks detrimental data including winding up petitions and other court actions on a daily basis.
Although the total number of ailing businesses reported for the three months to June was the lowest since the end of 2008, the company’s experts believe that levels of corporate insolvency across the UK as a whole are likely to rise above those experienced at the height of recession in the early nineties, peaking in 2012.
“Like unemployment figures, corporate and personal insolvencies are lagging indicators of the impact of economic change which means that we are likely to see an upward trend for some considerable time to come,” said Julie Palmer, partner at the Bournemouth office of Begbies Traynor.
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