• Text size      
  • Send this article to a friend
  • Print this article

Number of distressed firms rises

THE number of Scottish companies in critical distress has risen by 8%, according to the latest data from Begbies Traynor.

The insolvency specialist said there were 157 instances of businesses with decrees totalling more than £5000 or with winding-up petitions in the finalquater of 2013.

The Scottish picture was in contrast to the UK where there was a 1% fall when compared with the same period of 2012.

Scottish firms showing significant signs of distress - either with court actions against them or with poor or out of date accounts - rose by 7% between October and December last year, which was less severe than the 16% hike seen across the UK.

Ken Pattullo, group managing partner at Begbies Traynor in Scotland, said: "Scotland's smaller businesses, that are the engine room of the economy and drive the growth, are still bearing the brunt of business distress accounting for 92% of the instances of significant distress reported in the last quarter."

Contextual targeting label: 
Business

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

206844