A specialist lawyer has warned that the increasing number of ‘zombie companies’ operating could lead to a surge in insolvency cases if HMRC and the banks start to take action against companies that are unable to pay their debts.
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zombie company
According to the trade body for insolvency professionals, there are 160,000 ‘zombie companies’ live in the UK – these are companies who can only afford to service the interest on outstanding debts, but not repay the debt itself.
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