More than 160,000 companies are experiencing "significant" or "critical" financial distress and between them owe in excess of £55bn, according to Begbies Traynor.
In its latest Red Flag update, which highlights troubled businesses, the professional services group found a 14pc jump in the number of distressed companies. There were 161,601 red flagged companies in the first quarter of this year compared with the final quarter of 2009.
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More than 160,000 companies are experiencing "significant" or "critical" financial distress and between them owe in excess of £55bn, according to Begbies Traynor.
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