North East firms facing brighter future, find insolvency experts

Allan Kelly, chair of R3 in the North East and a partner with RSM
Allan Kelly, chair of R3 in the North East and a partner with RSM
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New research shows the North East economy ended 2015 on a high, with almost all its key industries in the top half of national business stability tables.

Insolvency trade body R3’s latest figures found the North East’s representatives ranked in the top four in six of the ten key sectors that it covers.

Regional chairman Allan Kelly said: “There’s no doubt conditions are still tough for many regional businesses, and a return to the sunlit uplands is still a long way away, but having the North East positioned relatively strongly against its UK peers does provide some clear grounds for optimism for 2016.

“Seeing sustained improvement in retail is very encouraging, and our retailers will be hoping they can sustain these figures.”