More than 1,100 businesses in Northern Ireland are at risk of closing, according to Begbies TraynorMore than 1,100 business in Northern Ireland say they are at the ‘critical’ stage of distress, which means they are possibly within just months or even weeks of closing. The latest quarterly Red Flag Alert by independent business rescue and recovery specialist Begbies Traynor shows businesses displaying the most serious ‘critical’ levels of distress rose by 42% year on year from 776 to 1,102. Sectors with the highest rises in critical distress were automotive (up 143.8%), health and education (up 103%), and wholesale and industrial transportation (both up 100%). Thomas McKay, managing partner for Begbies Traynor in Northern Ireland, said: “Many regions of the UK saw rising distress that countered the usual seasonal norms for sectors that typically see their best months in the run up the Christmas. “And this rise in early significant distress, which can predict trends in future quarters, is particularly worrying, especially here in Northern Ireland.