Report shares insight into distressed businesses in Yorkshire

44,000 Yorkshire businesses were in 'significant’ or early-stage business distress by Q3 2024, according to insolvency firm Begbies Traynor's Red Flag Alert research. The findings, localised for Yorkshire following a sharing of nationwide figures last week , show that the number of Yorkshire companies 'with financial problems' had increased by more than a third (33.5 per cent) since the same quarter in 2023, and by 4.

7 per cent since Q2 of this year (similar to the UK-wide figures). A noteworthy rise in distressed businesses has taken place in the food and drug retail sector in Yorkshire, with a quarter-on-quarter jump of 18.2 per cent - and a year-on-year jump of 76.



5 per cent. Red Flag Alert’s algorithm measures corporate distress signals, drawing on company accounts and factual, legal, and financial data from 'a wide range of relevant sources,' including intelligence from Begbies Traynor. The algorithm was refreshed in 2023.

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