The number of manufacturers facing ‘significant’ or ‘critical’ financial problems rose 12% to 6,820 in the first quarter of 2010 according to the latest Red Flag update from insolvency firm Begbies Traynor.
‘Significant problems’ refers to court action very poor insolvent or out date accounts. ‘Critical problems’ include County Court Judgements totalling £5,000 or more or Wind-Up Petition related actions. Around the country, companies were worst affected in the South West (up 46%), West Midlands (up 16%), the North West (up 12%) and the North East (up…
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