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LATEST NEWS & EVENTS Professional insolvency advice 'not the final nail in the coffin'  Companies should not delay seeking advice from an insolvency lawyer or other professionals when facing financial hardship. This is the view of R3, the Association of Business Recovery Professionals, which is concerned at the number of companies in difficulty. Six in ten (59 per cent) businesses are experiencing some sign of distress such as decreased profits or reduction in sales volume, according to R3's latest Business Distress Index. R3 president Frances Coulson explained that the first stages of recovery are the most difficult time for businesses. "It takes time before a return to growth translates into tangible relief for business owners, but unfortunately creditors can become more aggressive in their pursuit of debtors once there are signs of growth," she said. Ms Coulson went on to urge businesses that are facing distress to seek professional help quickly to increase their chances of survival. R3 recently warned that a key government scheme to reduce business hardship was failing to deliver. Time to Pay figures showed arrangements totalling £650 million remain unpaid, the association said. Posted by Paul Stevens 
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