U.K. ‘Zombie’ Companies Kept on Life Support by Banks, FT Says
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Banks are keeping alive “zombie” U.K. companies that are able to pay interest charges but not loans themselves, the Financial Times reported, citing a survey by consulting company KPMG.
KPMG found that the average time taken to resolve the affairs of such companies, typically small to medium-sized, is 12 to 18 months, up from six to 12 months two years ago, the newspaper said.