Zombie companies proliferate under cover of pandemic
Over-indebted firms threaten other companies after accepting state bailouts and payment holidays from banks
Wikipedia describes zombie companies as “indebted businesses that, though generating cash, after covering running costs, fixed costs (wages, rates, rent) ... only have enough funds to service the interest on the loans, but not the debt itself. As they generally depend on banks (creditors) for their continued existence, [this] effectively puts them on never-ending life support”.
In relation to humans, the Cambridge dictionary of a zombie is “a frightening creature that is a dead person who has been brought back to life, but without human qualities. Zombies are not able to think and they are often shown as attacking and eating human beings.”..
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