Fri, 07 May 2010 | BUSINESS NEWS
The number of companies experiencing critical financial problems has risen to more than 160,000 in the first quarter of 2010, a 14 percent increase over the same period last year.
This is according to the accountants, Begbies Traynor, in their latest Red Flag update, which monitors the warning signs of companies in distress.
The sectors worst affected include property services, in which, companies experiencing significant financial problems were up 42%; and construction, where problems were up 30% on the previous quarter.
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