Troubled firms half the chance

Ailing firms have only a 50 per cent chance of being rescued in the current economic environment, according to new research by accountants and business advisers PricewaterhouseCoopers.<br /><br />According to a survey of 150 turnaround specialists, scarcity of funding and poor management continue to be the driving forces pushing companies towards collapse. Banks are also believed to be reluctant to lend companies sufficient funds needed for turnarounds.