INSOLVENCY firm Begbies Traynor slumped to a £5.7m loss in the year to April 30 as sales dropped by 5% to £57.7m.

The Manchester-based company, which has offices across the Yorkshire region, declared a pre-tax profit of £5.5m from continuing operations, but exceptional losses of £7.1m relating to its discontinued operations dragged down overall levels of profitability.