The number of recruiters that have experienced ‘significant’ or ‘critical’ financial distress in the first quarter of 2010 has risen by 18%, according to insolvency practitioner Begbies Traynor’s latest Red Flag update.

In the North West, 270 recruiters reported ‘significant’ or ‘critical’ problems, a rise of 50%

compared to Q4 2009, whilst the South West and the South East saw a 16.5% and 12.5% increase respectively.