The statistics are published in the latest social impact report for members of the Institute for Turnaround (IFT).
Meanwhile, the incidence of distressed enterprises in the Northeast region increased by 10% year-on-year.
More positive findings from the report include an additional £3.1bn of shareholder value generated by IFT's independent members in 2024, according to a spokesperson. and the “protection” of 56,000 jobs “made possible by independent regeneration expertise”.
More than 80% of IFT members report similar or busier activity levels than in 2023, and 78% of members expect further growth in turnaround activity in 2025.
Cultural and psychological resistance to outside advice was the most cited reason why distressed companies did not seek early help.
The report can be read at https://www.the-ift.com/wp-content/uploads/2024/12/The-IFT-Impact-Report-2024_compressed.pdf.
