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Category: Company & Commercial

Surge in number of firms facing critical difficulties

Surge in number of firms facing critical difficulties

The Red Flag Report produced by Begbies Traynor shows that 186,554 UK businesses were experiencing significant or critical financial problems in the first quarter of this year. That was a 15% increase on the same period in 2010. Sectors that are dependent on discretionary spending were the worst affected. Taken year on year, the number…

Penalties imposed on construction firms ‘were too harsh’

Penalties imposed on construction firms ‘were too harsh’

The Tribunal said it was important to make a distinction between simple cover pricing and bid rigging, which is much more serious. Bid rigging involved firms joining forces as a cartel in order to enable one of them to win a contract at a lucrative rate. Cover pricing was less damaging. It usually happened when…