Friday, October 29, 2010
Recovery with shadows.
If a company asks for more than one Time to Pay agreement or a further extension on their agreed repayment plan, this indicates their financial difficulties may be extremely serious. We understand that the number of repeated deferrals increased considerably from around 33,000 in September 2009 to 79,000 by early 2010. Without new figures, it is impossible to tell how many companies under the Time to Pay banner are severely distressed and at risk of insolvency.