CASH-RICH FIRMS are primed to buy out their struggling peers, according to a new survey by Plimsoll Industry Analysis.
The Accountancy & Bookkeeping Services report found out of 164 companies with a turnover above £1m, 62 have sizeable cash reserves that could be used buy competitors, while 57 are in a perfect position to be taken over.
Author David Pattison said: “These companies are now in the position to buy up large chunks of market share at rock-bottom prices and make that money work for them. They must be like kids in a sweet shop at the moment – all those distressed competitors available at a fraction of their true value.”
He pointed to directors of these struggling businesses “eyeing the exit doors”, saying conditions are right for a prolonged period of consolidation.
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