Tuesday 30th September 2014

Firms warned of over-trading in recovery

The number of East of England businesses unable to pay more than the interest on their debts – a key characteristic of ‘zombie businesses’ – has jumped from 11,000 in August 2013 to 18,000 last month, according to insolvency trade body R3. However, it remains well below the position in June 2012  when the number stood at 55,000.

Rather than a return of the ‘zombie phenomenon’, insolvency practitioners suspect that late payment and over-trading problems associated with economic recovery are behind the rise.

R3’s Eastern region chairman Frank Brumby, a director at Isadore Goldman ...

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