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10,000 businesses in Northern Ireland now in early financial distress There has been a sustained fall off in trade as lockdown restrictions continue to bite. Picture: Mal McCann Gary McDonald Business Editor
Lawrence O’Hara, who leads Begbies Traynor in Northern Ireland
NEARLY 10,000 businesses in Northern Ireland are now showing signs of early financial distress, according to rescue and recovery specialist Begbies Traynor s latest Red Flag Alert barometer.
That s up 40 per cent on a year ago, and generally reflects UK-wide data, where a total of 630,000 firms have seen their prospects deteriorate.
Northern Ireland did experience a 41 per cent year-on-year quarterly fall in businesses experiencing ‘critical’ distress (which refers to businesses that have had winding up petitions or CCJs totalling more than £5,000 against them).
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