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Red Flag opens to the public
Begbies Traynor, the insolvency and recovery specialist, will launch its Red Flag Alert system as a commercial tool to allow companies to measure the financial health of their customers and competitors. Until now, Red Flag Alert has been used internally by Begbies and for media houses to assess the corporate landscape in the UK. It runs on a database of more than 6m firms. Executive chairman Ric Traynor said: “As trading must go on, early detection of businesses that are on the brink of failure is crucial to minimising the risk of financial losses.”