Corporate distress caused by inflation and rising interest rates is set to spread from smaller to larger UK companies, according to recovery specialists Begbies Traynor and FRP Advisory. Ric Traynor, executive chair of Begbies Traynor, said smaller businesses had so far dominated rising levels of insolvencies and driven the number of liquidations above pre-pandemic levels. The head of the Aim-traded group predicted that the number of administrations, which he said typically involved bigger companies, was likely to pass the same threshold “towards the end of this calendar year”.