R3 warns over impact of interest rate hike

NEARLY a third of companies in the North would be in financial stress if interest rates rose significantly - by 1% or more - in the next 18 months, according to research from insolvency body R3.

Among those hardest hit would be 'zombie businesses' - those already struggling to make ends meet, even with interest rates at their historic low of 0.5%.

Richard Wolff, North West regional chair of R3 and head of corporate recovery and insolvency at Manchester law firm JMW said that despite the economic recovery it wa... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...