'Costs just keep rising' - jump in [U.K.] firms in trouble

By Free Republic | Created at 2025-01-24 12:57:33 | Updated at 2025-01-24 19:41:12 6 hours ago

'Costs just keep rising' - jump in [U.K.] firms in trouble
BBC ^ | Simon Jack and Charlotte Edwards

Posted on 01/24/2025 4:43:18 AM PST by RandFan

There has been a record jump in the number of UK businesses in critical financial distress, according to insolvency specialists.

Businesses in the most distress include those in hospitality, leisure and retail, but the construction industry is also facing challenges.

Insolvency experts Begbies Traynor said a company can be considered to be in critical financial distress if it has an outstanding county court judgment of more than £5,000 or faces a winding up petition.

"The last two years have been really quite stressful trying to run a business," said Helen Gorman, who decided to close her café bar TwentySix in Cardiff this month due to rising costs.

"The industry as a whole is horrific and some of these challenges I don't think any government really understands, particularly around VAT rates that we pay. The costs just keep going up, be that supplier costs, be that energy costs," she told the BBC.

The struggles for businesses comes at the same time as a drop in consumer confidence, with more people concerned over the UK's financial prospects, as well as their own.

(Excerpt) Read more at bbc.co.uk ...

TOPICS: Business/Economy; Chit/Chat; Conspiracy
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Labour "policies" not helping and it's going to get worse

1 posted on 01/24/2025 4:43:18 AM PST by RandFan

To: RandFan

As long as the people in the UK don’t complain about the REAL CAUSE of their economic problems sky high energy prices driving out virtually all other spending due to Green Policies and insane attempt to “Punish Putin”, they’ll stay out of jail, for now at least.

2 posted on 01/24/2025 4:47:59 AM PST by BobL

To: RandFan

Energy costs…yet the UK continues on its disastrous course to net zero. Insane.

3 posted on 01/24/2025 4:52:37 AM PST by kabar (I’m )

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