Distress on the comeback trail
In an increasingly turbulent and inflationary world, could an ‘old-fashioned’ wave of distressed debt be around the corner?
The covid pandemic, inflation that now looks more long term than transitory, the promise of hikes in base rates, supply chain pressures, the conflict in Ukraine. The list may go on, though one can only hope it stops there – at least for long enough to take a breath and take stock. But regardless of what the future brings, surely there’s already plenty enough volatility in the system to create a serious amount of dealflow for distressed investors?