Insolvency specialists are hiring up extra staff as fears mount that the world credit boom is coming to an end.
Relaxed lending conditions in the UK and US have led to record levels of borrowing and generated £52bn worth of business in the last eight months, reports The Financial Times.
A fall in the US Treasury’s bond prices last week, however, and indications that bankers are battling to tie up riskier corporate bond issues, has increased nerves that companies with debt will not be able to survive a harsher economic climate.
This has prompted corporate recovery advisors, including PwC, the largest player in the world, to hire up insolvency specialists in the retailing, utilities and telecommunications sectors.
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