Begbies Traynor: Companies showing more signs of financial distress

Hello and welcome to our daily digest of business, financial and economic news from around Scotland.

1. The signs of financial distress among Scottish companies have risen in the first quarter of the year.

The Red Flag Alert research by Begbies Traynor, the business recovery specialist, found a 22.6 per cent year-on-year increase, to 2,060, in businesses classed as being in advanced or critical distress.

That was at a quicker pace than the 20.1 per cent uplift for the UK as a whole.

Of the 22 sectors analysed in Scotland, 13 saw worsening conditions, with print and packaging, food and drugs retailers, travel and tourism, and food and beverage suppliers among the areas reporting the largest impact.

Ken Pattullo, the managing partner for Begbies Traynor