The fall in the value of the Pound and uncertainty over the vote to leave the European Union is exacerbating problems for nearly one-third of Scottish professional services businesses, including law firms, which are still considered to be at a heightened risk of insolvency, says a report by R3, the body for the insolvency industry.
Chairman of R3, Tim Cooper, said that whilst there has been a 2.1 per cent fall in the number of professional services firms in Scotland facing a higher than normal risk of insolvency, there is still a "high proportion" of firms facing risk of failure, with the “current climate” not helping to mitigate those concerns.
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Where there are concerns about your business or personal financial situation, our specialist insolvency, recovery and advisory partners at BM Advisory are also available to assist with resolving issues and finding innovative solutions for businesses and individuals in distress.