There has been a "huge increase" in the number of firms asking for advice on corporate insolvency issues, it has been revealed.
The UK Insolvency Helpline has seen the number of calls it receives on the topic grow by as much as 30 per cent since the start of the recession.
According to a spokesperson for the organisation, in some cases, smaller businesses are struggling because of their owners' debt problems.
He said: "It's a domino theory. First of all it is personal debt and then eventually it then goes to company debt. That's what we have seen."
However, it can work in the opposite way too, Mr Morton added.
Earlier this year, Bob Morton, chairman of Tenon, warned that business failures will continue to rise even as the economy begins to recover.
As a result of this, Tenon will position itself to ensure it is able to meet any increased demand for recovery services, he added.
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