Rain

Rain

max temp: 7°C

min temp: 1°C

Search

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

PUBLISHED: 06:00 09 May 2014 | UPDATED: 15:36 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.

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.

Ipswich Hospital bosses should be proud of the services they provide, a health watchdog’s chief inspector said as he gave the trust glowing feedback in a new report.

Nearly nine nurses a day are leaving the NHS across the East of England, new figures reveal.

The winner of the East Anglian Daily Times and Ipswich Star’s Christmas Claws competition has been announced. .

No serious injuries have been reported from the collision

A Suffolk charity has announced its guest speaker at an annual conference that in previous years has attracted the likes of Professer Stephen Hawking and his former wife and author, Jane.

A man who assaulted his former partner and her new boyfriend after finding them in bed together at her Ipswich home has been jailed for eight months.

A boy has appeared in court charged with robbery in Ipswich.

Dog owners are being warned after a second pet died on the region’s coast in just over a fortnight – this time on Felixstowe beach.

The Orwell Bridge is now expected to remain open on Thursday after the threat of high winds overnight eased.

Police in Kesgrave have warned motorists that irresponsible parking around the weekly parkrun will result in fines, after a string of recent problems.

Most read

Show Job Lists

Topic pages

Newsletter Sign Up

Sign up to receive our regular email newsletter
MyDate24 MyPhotos24