Interserve in ‘constructive and ongoing’ discussions with lenders

interserveInterserve has confirmed it is in talks with its lenders amid growing fears about the firm’s finances.

Last month the group saw its shares halve when it issued a fresh profit warning and announced that the cost of quitting its troubled Energy from Waste (EfW) contracts will “significantly exceed” the £160 million it had expected.

The financial troubles have seen Interserve’s chief executive and finance director resign in the last year.

A report on Sky News over the weekend said the contractor’s banks had drafted in accountant EY to help assess the firm’s trading position.

The news prompted Interserve to issue a statement this morning saying that it would be making an announcement shortly.

A spokesman said: “Interserve confirms that it is engaged in constructive and ongoing discussions with its lenders.

“Work is underway to provide greater clarity on Interserve’s current trading and Energy from Waste provision, provided in the 14 September update announcement.

“A further announcement is expected in the coming days.”

Tags: Interserve

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