The latest Red Flag Alert report from Begbies Traynor has revealed that more than 47,000 firms have started 2024 in critical financial distress.

Here is a list of the companies seen as being on the edge of collapse by region:

London – 14,221

South East – 7,884

Midlands – 5,696

North West – 4,951

Yorkshire – 3,303

South West – 3,271

East of England – 2,960

Scotland – 2,245

Wales – 1,360

North East – 836

Northern Ireland – 747