Interserve confirms debt-for-equity talksSubscription
Interserve has confirmed it is in talks with its lenders regarding a debt-for-equity swap.
Pennon has cut the amount it is seeking to claim from Interserve over its Glasgow energy-from-waste project due to the contractor’s low credit levels.
Interserve's debt 'could reach £800m'Subscription
Interserve’s growing debt mountain could peak at close to £800m, analysts have said, after the firm announced that year-end net debt would be £50m above previous expectations.
Interserve’s net debt has jumped more than expected and could hit £650m by the end of 2018, which the company blamed on further energy-from-waste losses and slow payments in the Middle East.
Business secretary Greg Clark has refused to be drawn on questions regarding Interserve’s financial health and payment to subcontractors.
Interserve features and analysis
In a normal year, the start of December is when everything begins to wind down.
Interserve has enjoyed a few months of relative calm on the stock market following wild swings in its share price between January and May.
ISG subsidiary Agility is barely two years old and turning over £80m a year. So why are smaller fit-out firms having success and who’s competing in this space? Binyamin Ali investigates
Mace took a narrow victory in September’s contractor league as the combined value of wins settled down after a rocky few months.
Today was a big day for Interserve.
When Royal Mail shareholders cast their votes on directors’ pay last week, the results will have sent shivers through boardrooms across the country.
Corporate pay packets are being scrutinised like never before. CN analysed the accounts of the biggest listed construction firms to reveal who earns the most among the top bosses.
Activity across the top 50 contractor league once again held relatively steady in June as Multiplex claimed the summit for the first time since January last year.
Interserve’s chief executive Debbie White appeared in front of MPs on the public accounts committee this week to answer questions about the government’s strategic suppliers.
Interserve’s chief executive Debbie White and chief financial officer Mark Whiteling have perhaps the toughest management jobs in the industry right now.
Interserve finally reported its long-awaited annual results today, which revealed a £244m pre-tax loss.
Interserve’s results for 2017 dropped this morning with a £244m pre-tax loss thud.
Construction officially has the worst gender pay gap of any UK industry. Binyamin Ali examines the figures for the 10 biggest contractors and looks at what needs to be done.
Interserve finally got a break last week when it announced it had reached an agreement on new financial terms with its lenders.
Contract wins among the top contractors grew by nearly a quarter in January year on year, led by Kier’s £595.1m haul.
Giants of construction have suffered a torrid start to the year.
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