Fewer firms at risk of folding

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AROUND three-quarters of businesses in the region’s 10 key economic sectors have seen their risk of entering into insolvency procedures recede over the last 12 months, according to research by R3, the insolvency trade body.

A Portsmouth insolvency expert has heralded it ‘positive’ news, but is warning businesses not to become too complacent.

Transport and storage businesses in the South East are the most improved, with 75.65 per cent of companies within the sector, which includes taxi firms, bus companies, warehouses and logistics operators, seeing their risk of insolvency fall.

Julie Palmer, council member of R3 and from Begbies Traynor Portsmouth, welcomed the figures, saying: ‘These figures are very encouraging for the South East and give an upbeat snapshot of the region’s finances, which look to be recovering after some difficult years.’