Plimsoll Publishing Ltd’s latest report says 275 of the 910 top firms are now in more debt than in any time during the past four years.

“We are always surprised how no-one at these companies seems to realise their debts are rising and the effect it’s having on the overall financial strength of the company,” said Plimsoll’s head of research David Pattison.

The report highlights 133 companies where debts are already impacting business and competitiveness.