There has been a sharp rise in the number of businesses in distress, according to new reports. The quarterly Red Flag report from Begbies Traynor says more than 186,000 businesses were experiencing 'significant' or 'critical' financial problems in Q1 2011, compared with some 147,000 in the last quarter of 2010. This represents a 26% rise over the last three months and is up 15% on a year ago. At the same time, RSM Tenon's Tracker Traffic Light report identified a 4% increase in March in the number of retail companies deemed to be at high risk of insolvency compared to the month before. It says the figures are 2% higher than this time last year and represent the second increase in two months.
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