Bars and restaurants top table of 'distressed' businesses

There was a 15% increase in financial distress across all business sectors in the first quarter of this year, according to a large business recovery firm. The firm's Red Flag Report shows a 70% year-on-year rise in the number of businesses in the bar and restaurant sector showing signs of distress. Some 60% more businesses in the professional services sector were in a similar position. The firm commented that sectors relying on discretionary consumer spending were "beginning to show the effects of anticipated job losses."