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'Brexit Uncertainty Puts More UK Businesses Into Significant Distress' | | Lincolnshire In Focus
Grimsby-based Forbes Burton, a company rescue and insolvency specialist has warned that ongoing uncertainty over Brexit means more companies could be facing financial difficulties in the months to come. This warning has come as new figures from risk management specialists Red Flag Alert and The Insolvency Service have been revealed, showing that almost 1 in 5 UK businesses are classified as being in 'significant distress'. Rick Smith, Managing Director at Forbes Burton says: "This is a real concern and should be taken seriously. For example, in the Yorkshire and Humber area, companies with Critical Problems (companies with County Court Judgements totalling £5,000 or more) rose from 130 Q1 2018 to 172 Q1 2019 and in the East of England, which includes Lincolnshire, the figures were up from 155 to 168 over the same period. "The impact of the uncertainty around Brexit is really starting to take hold now and we may see even more increases in the number of businesses facing problems in the