Overcast

Overcast

max temp: 10°C

min temp: 3°C

ESTD 1874 Search

East Anglia: R3 reports reduced insolvency risk in leisure and retail sectors

06:00 09 May 2014

Frank Brumby, eastern region chairman of R3.

Frank Brumby, eastern region chairman of R3.

Archant

The risk of business failure in some of East Anglia’s key hospitality and retail sectors is continuing to fall, according to research by R3, the trade body for insolvency practitioners.

shares

Among the strongest performers in February and March were hotels, pubs and general retail, with the proportion of businesses at high risk of insolvency in each sector falling.

The research also highlights a month-on-month strengthening in the restaurant, construction, property and professional services sectors in East Anglia, which have all shown a fall in businesses with a higher than normal risk of insolvency since the end of February.

R3 eastern region chairman Frank Brumby, a director at Isadore Goldman, said: “Whilst a significant number of businesses continue to tread a fine line between insolvency and survival, these figures are certainly encouraging.

“I would expect them to improve over coming months as we see a rise in regional investment and a growth in national GDP.”

R3 uses research compiled from Bureau Van Dijk’s “Fame” database of company information to track the number of businesses in key regional sectors that have a heightened risk of entering insolvency in the next year.

This positive economic picture for the region is echoed by R3’s latest Business Distress Index, which charts company performance across the East of England.

Published earlier this year, the research found the local economy in increasingly robust shape, with a record 82% of the region’s businesses showing at least one key indicator of growth.

More than half (59%) of those surveyed in the East of England had experienced a rise in sales volumes, while a similar number (51%) were showing increased profits. Almost half (40%) said their business was expanding and a third (36%) said they were growing their market share.

shares

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other East Anglian Daily Times visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by East Anglian Daily Times staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique East Anglian Daily Times account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

Nicola Corbett of EDF Energy.

Budding entrepreneurs from Woodbridge School have been crowned as winners in the 2016 Suffolk Young Enterprise contest.

One of Siemens' 7MW wind turbines, of the kind to be installed as part of the East Anglia One offshore wind farm project.

ScottishPower Renewables has awarded what is thought to be Europe’s largest single-project wind turbine contract, with the development of the giant East Anglia One offshore wind farm having cleared its final hurdle.

A new range of grants have been made to local good causes.
The picture shows(L to R): James Hopkins, Annie Munson, Centre Manager of Bury Women’s Aid, and Selina Hopkins.

 James and Selina visted a number of causes throughout Suffolk last week, including the Bury Women’s Aid.

Could your local project benefit from a community grant?

Brett Bayliss of JM Finn.

Investment management firm JM Finn & Co is set to consolidate its two offices in East Anglia.

From left, Ginny Idehen, the new chair of Suffolk Business Women, Lina Hogg, the former chair, and  Amanda Ankin. head of chamber services at Suffolk Chamber of Commerce.

The new chair of the Suffolk Business Women (SBW) networking group has praised her predecessor for her achievements.

Most read

Great Days Out

cover

Click here to view
the Great Days Out
supplement

View

Most commented

HOT JOBS

Show Job Lists

Streetlife

Newsletter Sign Up

Great British Life

Great British Life
MyDate24 MyPhotos24