Comments on Lehman Brothers

Nick Hood, Head of the International Practice of Begbies Traynor, the insolvency and business turnaround specialist, said:

“Nobody can predict how far the financial contagion from the collapse of Lehman Brothers will spread, but the credit crunch has reached the bleakest point to date. However, at the apparent darkest hour for financial companies worldwide, there is a vital importance on steady nerves and clear heads in the boardrooms of those companies and financial institutions which have been caught up unintentionally in the crisis. Lehman has been funding provider and/or financial advisor to 72 UK deals in the last three years so we can expect significant reverberations. Executives must take constructive action and seek independent, professional advice as to the best strategy moving forward. Companies with strong, experienced management teams and robust business propositions will be best placed to weather a storm which is rapidly gathering pace to become a typhoon.”