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City businesses at risk of going bust
The Herald
|January 31, 2025
NEARLY 1,200 PLYMOUTH BUSINESSES 'ARE IN FINANCIAL TROUBLE'
NEARLY 1,200 Plymouth businesses are in financial trouble and could go bust, new data reveals.
The latest Red Flag Alert report shows a huge rise in the number of city businesses falling into danger.
Figures from business consultants at Begbies Traynor show the number of Plymouth businesses in significant distress now stands at 1,178, up 18.39% on the previous quarter and 24.79% on the same time last year.
In July last year, the report said 942 companies in Britain's Ocean City were classed as being in significant economic distress meaning another 236 have joined them in just six months.
Once again, companies in the property and construction sectors are most at risk of going under.
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