Number of firms in 'critical financial distress' leaps by 126%

摘要

The number of construction companies in critical financial distress increased 126% over the past year, according to corporate recovery specialist Begbies Traynor.rnIts latest survey showed 1,279 firms faced critical problems in the first quarter of 2009, compared with 565 in the same period in 2008.rnThe definition of companies with critical problems are those with county court judgments totalling £5,000 or more or those that havernwinding-up petitions against them. Only property services companies showed a greater rise than the construction sector.