Swindon businesses amongst half a million across the UK in ‘Significant’ distress

Data released by the UK’s leading business recovery specialists Begbies Traynor has identified an increase of 44% for the 4th quarter of 2017 compared to the previous year. The trend was reflected in Swindon, where amongst the sectors faring worst were construction which saw an increase, Bars and Restaurants increased by 31%, Industrial Transportation and Logistics increased by 87% and Hotels and Accommodation increased by 50%.

Nationally, a hike of 36% of business are in ‘significant’ distress for the same period compared to the previous year.

They stated that it was economic pressures last year contributed to this considerable increase in distress, with the combination of rising inflation, stagnant real wage growth, a weak Pound, political uncertainty, November’s rise in interest rates, and the ever-tightening credit environment putting increasing financial stress on businesses across the country.

 

By |2018-02-02T16:10:45+01:00February 2nd, 2018|Uncategorized|0 Comments

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