Begbies Red Flag service to get commercial wave
11 April 2012
Insolvency and recovery specialist Begbies Traynor is to launch its Red Flag Alert system commercially as a way for companies to monitor how their customers, suppliers and competitors are faring.
Until now, Red Flag Alert has primarily been used internally by Begbies and as a public relations tool to measure the general health of corporate Britain.
Recent analysis of the alerts suggests that the worst for insolvencies is yet to come, with 130,000 companies showing significant financial stress.
Executive chairman Ric Traynor said he believed Red Flag had become "without doubt the most comprehensive database of its kind with millions of records on every business in the UK, from sole traders through to limited and quoted companies".
