zombie company
n.— «A new phrase, “zombie companies,” was coined to describe those companies kept alive by banks even though they were insolvent. Some were property companies the value of whose assets had fallen by more than 30 per cent and with clearly no ability to repay their debts. Yet there was a reluctance to call in the loans.» —“Japan set for another plunge on economic rollercoaster” Irish Times (Dublin, Ireland) Jan. 16, 2009. (source: Double-Tongued Dictionary)
Further reading
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