Property groups, pubs and other leisure companies could experience a further wave of restructurings in the next year, according to the head of PwC, which includes the UK’s largest insolvency practice.

In an interview with the Financial Times, Ian Powell, chairman of the accountancy firm, said: 'We think there’s a big overhang in terms of possible restructurings from real estate and leisure and pub companies we see as remaining under pressure.'

PwC has been appointed administrator in a series of high-profile corporate collapses in the past year, most notably the European headquarters of Lehman Brothers – the biggest bankruptcy in corporate history, for which it earned fees of £77m in the six months   to mid-March.

The work helped the firm generate fees of £2.24bn in the financial year ending June 30 – virtually unchanged from the previous year, according to its annual report, published today.

Financial Times