Food & beverage service is the week's clearest signal: distress-side concentration there hit 5.6x normal share (24 firms) — nearly triple the intensity of any exit-side sector — with Yorkshire & North East also over-represented on the distress book (1.5x, 16 firms). Exit-leaning activity was smaller and more spread (led by Motor trade at 2.6x, only 9 firms), so it reads as thinner evidence. One caveat: 89% of this week's re-ratings landed on a single day, so this is an early snapshot worth watching, not yet a trend.
Anonymised by design: cohorts and counts only, never a named company.
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