Some countries like Canada and Australia, surprisingly to some, have an enormous number of zombie firms that do not qualify as zombies based on interest coverage less than one. But for the most part, they fail after many years of being zombies. And I'll come back to what happens to zombies after they are identified if you're interested later on.
In this week’s Primary View podcast, Dr. Edward Altman, the legendary bankruptcy expert, discusses the outlook for debt-saddled zombie companies with Reorg reporter Gaurav Sharma. The New York University professor, best known for the Z-Score formula, cautions that bankruptcy cases are likely to increase in 2024-25, even if the U.S. avoids a recession.
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