Thinktank calls for Sunak to help ‘zombie firms’ struggling with debt

Onward calls for chancellor to launch debt relief scheme, as one-in-five could be insolvent

One in five businesses in Britain are “zombie firms” struggling to stay afloat after a boom in company debt levels during the coronavirus pandemic, an influential Tory thinktank has warned.

Calling on the chancellor, Rishi Sunak, to use the autumn budget to launch a debt relief scheme for firms, the Onward thinktank said crippling levels of debt built up during the crisis would hamper the UK’s economic recovery.

Continue reading…