LONDON: Britain's smaller companies could be saddled with up to 105 billion pounds in"unsustainable" debt by March next year that will need recapitalising, a financial services body told the Bank of England on Monday .
The main focus is on unlisted small and medium sized firms that all together employ 16 million people and generate turnover of over 2 trillion pounds. A preliminary analysis showed that the level of unsustainable debt in the sector could be between 90 billion pounds and 105 billion pounds by March 2021, TheCityUK said."Our preliminary work suggests our main focus should be forbearance and restructuring and the recapitalisation of companies using equity or equity-like instruments," it said.
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