Liz Osborne Quoted on Increase in Distressed Activity in Europe by Debtwire
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Debtwire has quoted Akin Gump financial restructuring practice co-head Liz Osborne in its article “Restructuring and distressed activity to pick up for advisors but buysiders find opportunities wanting – Distressed Preview.” The article explores the financial landscape for Europe in 2022, predicting an increase in distressed and restructuring transactions.
According to the publication, this year, certain European jurisdictions will begin to end state aid that has been protecting companies impacted by the COVID-19 pandemic. Without this aid, the economic outlook for 2020 is uncertain, with many businesses seeking solutions to keep them afloat. However, these solutions may not be enough to keep companies from collapse.
Speaking to that point, Osborne said, “Many people have been looking at revenue and EBITDA in relation to 2019 levels, and no one knows whether trading will return to pre-pandemic levels. There were many companies for which COVID was a tipping point.”
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