High financing costs pressure eurozone firms to restructure

— AFP

LONDON: One in 15 European companies are facing significant pressure to restructure this year after being hit by higher financing costs and weakening consumer demand, with Germany, Austria and the Nordics particularly under strain, according to a report by Boston Consulting Group (BCG).

Around a third of businesses in Germany and Austria also face what BCG dubs “transformation pressure” or early signs of weakening performance and financial stability that require improvement, the consulting firm said in a presentation.