ft capacity

THE DEAD WHO WON'T LIE DOWN

The ressurection of failed companies - even legitimately - has been a contentious issue at a time when the industry has desperately needed to cut capacity. A Gardner & Theobald study found that between 1990-93, œ700 million a year of turnover was taken out by 10 collapses. But œ350 million was immediately restored via receivership sales and other ventures. So much for rationalisation.