Monday, 16 July 2012

Scottish shops and hotels face insolvency risks

According to R3,  the trade body for insolvency professionals, more than 25% of shops and 20% of hotels in Scotland are at risk of becoming insolvent in the next 12 months.  The research was compiled using the Bureau van Dijk Fame database. Businesses classed as "at risk of failure" are defined as having a QuiScore below the normal band of 37-56.

Since the Red Flag Alert  was sold by Begbies Traynor, there has not been a quarterly "testing the health of UK businesses" service.  So instead we have been seeing reports coming from PwC, R3 and Experian. 

Scottish R3 spokesman Iain Fraser said: "It is not likely to surprise anyone that the retail and hospitality sectors are vulnerable."  The very poor weather has not helped that is for sure.  Mind you the Scottish are perhaps tougher consumers and shoppers in that department than the English!

If you are based in Scotland then have a look at our Scottish company rescue pages.

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