Maybe you'd like to compile a list of high yielding shares now which will collapse in the next two years - then we can see how predictable these things are without the benefit of hindsight.
Not claiming this is infallible, but the best 'dragons be here' pointer I can find:https://shorttracker.co.uk/companies/?sort=2&d=desc
Carillion hit 15% on this. Interserve also figured, but I was not a holder and not taking notes
In my view, this is far from infallible. In fact, I wonder whether we should even bother - is it just more over analysing?
Greene King also hit - was it 13% or more? - before recovering, more than once and so have other companies. Most Hedgies are interested in making a quick buck so shorting can get quite high even for good companies which have a future. That 15% on CLLN was really a serious indication only became clear once the ballon had gone up by which time it was too late. Before that it was no more than suspicious and a potential recovery position.
I do admit, howebver, that 12-15% or more is a short position which does demand some further interrogation - but if things are really serious, I'll bet you and I would have no means of finding out.