The number of firms in financial distress fell in the second quarter of this year compared to the first, according to insolvency specialist Begbies Traynor.
The 85,000 construction in financial trouble in the second quarter of this year was down on the near 96,000 facing problems in the first first three months of the year. However, it was still significantly higher than the 67,000 in financial distress at the same time last year.
The data has come from the firm’s Red Flag Report, which examines CCJs and company accounts to calculate the number of businesses in trouble. Last year saw a steady increase in the numbers, which peaked in the first quarter of this year.