SCOTLAND'S levels of business distress improved in the three months to September compared with the second quarter, beating the UK average.
Instances of 'significant' distress, the signals that indicate the early signs of financial trouble, fell by 3 per cent compared to a UK average rise of 1 per cent, according to research by Begbies Traynor. The biggest rises were seen across food and drink manufacturing (up by 69 per cent), wholesaling (up 56 per cent), food and drug retailing (up 47 per cent), and retailing (29 per cent).
Bars and restaurants saw the biggest improvement (down 29 per cent) followed by travel and tourism (down 19 per cent).
More serious instances of 'critical' business distress - winding-up petitions and decrees over £5,000 - fell by 11 per cent, beating a UK average fall of 5 per cent.
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