Ernst & Young is predicting a spate of
collapses of companies run by private equity funds.
The complexity of deals and the timing of debt repayments will undermine
companies that under previous ownership structures could have survived,
Keith McGregor, an insolvency partner at E&Y, said: ‘The quality of the
debt has dropped off in the last few years. Debt with a CCC rating has a one in
three chance of going bust within two years. But it is the fastest growing
element of debt in private equity structures.’
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies