Insights/Case studies/Newsroom/CareersCareersCareersPartnersConsultantsTechnology innovationCorporateEarly careersSearch Jobs/About us/Contact us Global locations

  • Phone
  • Contact us
  • Locations
  • Search
  • Menu


  • Add this article to your LinkedIn page
  • Add this article to your Twitter feed
  • Email this article
View or print a PDF of this page

Practitioners fear that the worst may be yet to come

Jonathan Moules
Financial Times
2 October 2009

Steve Frobisher, head of turnround services at PA Consulting Group, has contributed to a Financial Times article on the outlook for the UK following the financial crisis.  Steve commented that the road to recovery will be a long and hard journey.

Steve says the financial crisis has given birth to “zombie banks, zombie governments, zombie companies and zombie consumers”, which are not quite dead but not fully alive.

Steve goes on to predict that even recovery in the UK will feel like recession, with high rates of corporate insolvency and unemployment continuing for some time.

Despite corporate insolvencies hitting record highs, Steve says that a lot of the companies that need turning round are being hidden away by the banks. “Banks have balance sheets stuffed full of toxic assets that they still pretend are not toxic.”

“We have seen fewer fire sales and fewer liquidations than might have been expected.”

You can read the article in full here


Sign-up to receive company updates and press releases by email or newsfeed:



Corporate headquarters
10 Bressenden Place
London SW1E 5DN London SW1E 5DN
United Kingdom
Tel: +44 20 7333 5865 Tel: +44 20 7333 5865
contact us now

By using this website, you accept the use of cookies. For more information on how to manage cookies, please read our privacy policy.