UK insolvency and restructuring experts have been bombarded for months, as industries hardest hit in the pandemic have suffered an onslaught of company failures and emergency refinancings.
But specialists across accountancy, investment banking and law are now preparing for a fresh wave of corporate distress in the autumn, when government furlough and loan schemes that have kept thousands of businesses afloat and millions employed come to an end.
Peter Marshall, managing director at Houlihan Lokey, an investment bank, said there was a feeling of the calm before the storm.
Most larger companies had dealt with their immediate liquidity issues caused by the pandemic through agreeing covenant waivers with their creditors, for example, he s…
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