I came across this in my twitter link and whilst I also re-tweeted it I thought I would share this article. The parallels between what is observed in the UK insolvency environment and what I have experienced in Australia is frightening (albeit we are talking about Zombies here!)
Business recovery is something that must be undertaken on a proactive basis. In the current economy its all to easy to do the same as you did last year and the year before… failing to take corrective action quickly will only result in a bullet to head of the zombie when the creditors finally get hold of it.
In order to rehabilitate any company, you need to seek the advice of an Insolvency Practitioner early whilst there is still life left in the company and goodwill with its suppliers/creditors/bankers.