His company has fallen into a financial quagmire and cannot pull itself out.
Tips
usage
泥沼 works both literally (a marshy swamp) and figuratively (an inescapable predicament). The figurative use is extremely common: 陷入泥沼 (to sink into a quagmire) is a set phrase used in politics, business, and personal situations.
memory
泥 (mud) + 沼 (marsh/swamp) = muddy swamp. Both characters independently suggest wetland and difficulty - doubly stuck!