The rate at which UK property companies entered insolvency reached its highest point in six years in 2015 as rising property values prompted lenders to put zombie companies out of their misery and reclaim their assets.
Some 346 property companies went out of business in the second quarter of 2015, the most recent period for which figures are available more than four times the equivalent figure in 2010, according to data compiled by the law firm EMW. In the year to April 2015, 1,307 property groups were wound down.
The figures have been rising steadily since 2010 as the aftermath of the financial crisis played out and property prices recovered.
Banks have been holding on to these sour loans since …
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