Nicky Fisher, of R3, noted, "Our members are telling us that inquiries from directors increased in November, as they looked to understand more about their insolvency or restructuring options and discuss their financial concerns ahead of January."
Fisher further stated, "The December period will either be a lifeline or the tipping point for a number of businesses - especially those in the retail and hospitality sectors, who have had a challenging year of continued rising costs coupled with cautious customer spending."
Fisher added, "With the changes to employer National Insurance and National Minimum Wage being introduced in April, the next three months will be critical for firms in these industries and others as they work out how they will manage the impact this additional cost will have on their finances."
David Kelly commented, "The year ahead is poised to bring fresh challenges, including navigating the implications of the Autumn Budget measures and responding to the evolving actions of clients and suppliers."
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