Medium-sized businesses were the most likely to be exposed to other firms’ insolvencies in 2015, according to new research from insolvency professionals trade body R3.
The research, which was based on R3’s Business Distress Index which surveyed 500 UK businesses, found that 14 per cent of medium-sized firms (which employ 51 to 250 staff) were owed money in 2015 by an insolvent company.
In total, R3 found that 113,000 UK businesses were owed money by companies going into insolvency procedures last year.
Phillip Sykes, R3 president, said medium-sized businesses are prone to omitting the required checks, which often leaves them exposed.
“Growing businesses encounter two classic problems: going for growth b…
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