UK Companies face losses of £1.86 billion in bad debt write offs despite the Government’s COVID-19 support measures.

Mark Halstead
Mark Halstead of Red Flag Alert

Businesses are set to write off £20million more in bad debt this year, compared to 2019.

This is according to new data from the UK’s number one insolvency scorecard, Red Flag Alert, which shows businesses are set to write off £20million more in bad debt this year, compared to 2019.

•             Companies set to write off £1.86 billion in unpaid invoices this year

•             Total level of insolvent debt rises by £20million this year

•             Average value of insolvent debt increases by 7%

•             Retail, construction, hotel and travel sectors see some of the largest rises in bad debt

Red Flag Alert’s most recent ‘Write Off Report’ data from 13th November 2020 shows total levels of written off business debt in the UK have risen by 1% so far this year, increasing from £1.84bn to £1.86bn.

The retail sector has seen one of the largest rises in written off debt in 2020. However, the construction sector, is where write offs have risen by £31million to £283million. 




modbs tv logo

Women In STEM: Breaking into A Man’s World

With the growth in the engineering sector in the last few years, the requirement of additional workers has led to an increasingly diverse workforce especially with the inclusion of women  

Legionella bacteria - Symptoms are similar to that of Covid-19

An outbreak of Legionnaires disease in the West Midlands has prompted Stuart Gizzi, Managing Director at plumbing equipment manufacturer Intatec to remind Facilities Managers that Legionella precautions can be automated 

Calendar