Beast from the East’s chill still being felt by businesses
Archant © 2018
The knock-on effect from the Beast from the East is already being felt by firms with an increase in those at risk in February.
With the weather set for another cold snap and warnings of more snow, an insolvency expert has warned some businesses are already on the edge.
Mark Upton, chair of the Eastern branch of insolvency and restructuring trade body R3, said the disruption caused by the freeze had hit businesses at their worst time of year.
R3’s February figures found 39% of firms in the East of England had an elevated risk of insolvency, compared to 25% businesses last year.
Mr Upton said: “Keeping a tight control on the cash flow situation is essential as this will help demonstrate the continuing viability of the business.
“It is important to do everything possible to get payment for any outstanding invoices within the agreed time limit.”
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