Business
Q3 2010 Red Flag
Q3 2010 Red Flag.
About this update from Btg Consulting Plc
[{"type":"text","content":"\n RNS Number : 2869U Begbies Traynor Group PLC 13 October 2010 \n \n\nFor immediate release 13 October 2010\n \nUK PLC struggling with £57.5bn liabilities as government prepares to announce Spending Review\n \nKey Headlines:\n \n· 123,361 UK companies experiencing significant or critical distress\n· Those with critical problems owe more than £57.5 billion to creditors, suppliers and service providers\n· More than 50,000 companies at risk from government spending cuts to be announced next week\n· Previous improvements in the numbers of companies with severe problems now slowing down across the board\n· HMRC wind-up petitions on the increase as HMRC understandably tries to increase tax revenues from both corporates and individuals\n \nOver 123,000 UK companies are struggling under the weight of nearly £58 billion worth of liabilities, according to the latest quarterly Red Flag Alert, issued today by Begbies Traynor, the UK's leading business recovery specialist.\n \nThe report, which monitors the early warning signs of company distress, has found that 123,361 companies experienced 'significant' or 'critical' financial distress in Q3 2010, with those experiencing 'critical' financial problems owing over £57.5 billion to creditors, suppliers and service providers.\n \nPublic sector already suffering\n \nThis news comes against a challenging backdrop. Earlier this month, house pri...