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16/10/2017
Interserve Confirms Talks With Lenders
Interserve has confirmed it is in talks with its lenders due to growing fears over its financial future.
A report by Sky News on Sunday stated the firm's lenders, including HSBC and Royal Bank of Scotland, have fired EY as an adviser.
In a trading statement today, 16 October, Interserve confirmed it is engaged in "constructive and ongoing discussions" with its lenders following recent media coverage.
"Work is underway to provide greater clarity on Interserve's current trading and Energy from Waste provision, provided in the 14 September update announcement," the statement said.
"A further announcement is expected in the coming days."
The firm had previously warned its July and August trading had been "disappointing" and the cost to exit its waste management business would "significantly exceed" a £160m provision set aside.
(LM)
A report by Sky News on Sunday stated the firm's lenders, including HSBC and Royal Bank of Scotland, have fired EY as an adviser.
In a trading statement today, 16 October, Interserve confirmed it is engaged in "constructive and ongoing discussions" with its lenders following recent media coverage.
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"Work is underway to provide greater clarity on Interserve's current trading and Energy from Waste provision, provided in the 14 September update announcement," the statement said.
"A further announcement is expected in the coming days."
The firm had previously warned its July and August trading had been "disappointing" and the cost to exit its waste management business would "significantly exceed" a £160m provision set aside.
(LM)
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