The strategy, known as the London Approach, was used in the early 1990s to
encourage banks to be supportive of businesses.
& Young’s global head of restructuring, said a new version of the
strategy could be useful in the current financial crisis.
‘A guiding hand by some sort of third party that is non-political and doesn’t
have a commercial interest, could help improve the current way of tackling
The number of company failures has rocketed over recent months as companies
struggle to get credit from their banks. In a survey by
Roland Berger Strategy
Consultants, 33% of companies said unused credit lines had been withdrawn by
‘The tightening of credit to UK firms is well documented, but these findings
reveal the severity of the shortage at the highest levels of British industry,’
the survey said.
The survey questioned finance managers at 137 of the UK’s biggest companies
Three new partners and seven business restructuring advisers have been appointed to the new Preston office
Political and economic uncertainty behind the fall in confidence
Just Racing Services, operating company of the Manor Racing Formula One team has entered administration
Last year 16 oil and gas companies became insolvent, finds Top Ten firm Moore Stephens