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Monday, 23 May 2011

The Business Distress Index

R3, the insolvency trade body, has interviewed senior financial controllers at over 500 companies and has come up with the Business Distress Index. R3 has released some preliminary figures that suggest that businesses are starting to struggle more.  The most noteworthy observation was that 37% of businesses are worried about their crown debts!  So if more than a third of businesses are behind on their tax then there is some cause for worry.  Last time the Distress Index was published in December 2010 the biggest cause of concern by 47% of businesses was falling profits.

HMRC are tightening up on their time to pay programmes and perhaps businesses are worrying as their current deals are coming to an end.

Don't forget that as long as the business is viable in the longer term and the debt can be paid off in part over 3-5 years then a CVA may be an option.

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Many thanks for your comments. If you have a private business problem and you want advice give us a call on 0800 9700 539 or email me at keiths@companyrescue.co.uk. If you are a professional advisor with a troubled client, please suggest they visit www.companyrescue.co.uk or contact me as above.

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