Middle East War to Intensify Soaring European Corporate Distress

The outbreak of hostilities in the Middle East and surging energy costs are expected to exacerbate soaring levels of financial distress among European corporates, according to Alvarez & Marsal Inc.

Even before the US and Israel began their attacks on Iran on Feb. 28, financial strain among the continent’s businesses was at a four-year high, a new report from the consultancy firm released on Tuesday said.