Corporate restructurings set to rise, says PwC’s Lomas
Firm’s business recovery figurehead predicts the “sticking plaster” will soon fall off
Continuing economic woes and a drive to cut debts will see a huge number of
corporate restructurings over the next twelve months, according to
PricewaterhouseCoopers’ Tony Lomas.
The Big Four firm’s chairman of business recovery services said at the
Reuters Restructuring Summit that the next year will see “the sticking plaster
coming off a lot of these situations”.
Lomas added that companies struggling to find the equity to resolve debt
problems will have to turn to their banks for further restructuring.
“I cannot see an upturn in the UK, Europe or the world that will be quick
enough or healthy enough to sort these problems out,” he said.