More than a fifth of North firms have taken a financial hit after a customers firm collapsed, research has shown.
New findings from insolvency and restructuring trade body R3 found that 23% of regional businesses have suffered a hit to their finances following the insolvency of a customer, supplier or debtor in the preceding six months.
A total of 10% of the companies surveyed by R3 across the North East, North West and Yorkshire and Humberside described the financial impact of the insolvency of another business as very negative, with a further 12% of regional respondents describing it somewhat negative.
The R3 research has also revealed that more than a quarter (27%) of regional companies say they are owed payment on invoices that are m…
Read the full article at: https://www.chroniclelive.co.uk/business/business-news/domino-effect-insolvency-strikes-one-14927909