Interserve agrees deal with lendersSubscription
Interserve has announced it has reached an “agreement in principle” with its lenders and other financial stakeholders over its financing.
Interserve could cut up to 1,000 jobs worldwide this year as part of its turnaround efforts, which have received a fresh boost after a new investor purchased up to a third of company’s debt.
Interserve has dismissed reports that efforts to refinance its debt have run into difficulties.
Interserve 'culture of late payment' slammedSubscription
An ex-Interserve employee has alleged a “culture of late payments” to subcontractors exists at the troubled contractor.
Interserve closes down power businessSubscription
Interserve is closing down its power business as part of its restructuring efforts to boost profit.
Interserve features and analysis
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.
Nuclear power, proton beams and even Chinese modular hotels have featured in the biggest site reports this year.
Construction is an industry full of characters – these are the 15 people to keep an eye on in 2018.
There is plenty for our industry to be thinking about next year – Tom Fitzpatrick looks back over a difficult year for some, and picks out the obstacles that lie ahead as construction reaches a critical juncture.
The Construction News Summit brought together tech experts and innovation gurus from across the built environment to target the challenge of industry productivity.
The contractor’s work to deliver a complex radiation-shielding concrete solution has required exceptional precision.
A stand-out total of 30 contracts in just one month gave Kier top spot in the monthly league table for October, as the value of combined wins recovered from September’s crash.
The industry’s precarious nature has been reinforced today as Interserve issued its second profit warning in just over a month.
With a litany of profit warnings and now the threat that one of the UK’s biggest contractors could breach its banking covenants, Interserve’s problems have once again shown how mishandled contracts can bring a business to its knees.
The contractor top 50 came crashing back down to earth in September having hit unprecedented heights during the previous month thanks to HS2 wins.
“When you’re autistic, you come across as being different,” says Interserve’s senior consultant Arran Linton-Smith.
For three of the UK’s biggest construction beasts, the summer of 2017 is one to forget.
Interserve has been working on a project in the South-west that is helping homeless ex-servicemen get back on their feet through building their own houses – enabling them to gain vital construction qualifications in the process.
The contractor must plan for tens of thousands of tourists and inclement weather on a job where every last detail matters.
More and more companies are starting to take diversity and inclusion more seriously – and our six finalists this year have gone the extra mile.
Interserve brings in transformation directorSubscription
Interserve to axe jobs as cost-cutting beginsSubscription
Interserve wins £227m FM government contractSubscription
Interserve services MD exits with £395k payoffSubscription
Kier tops league table for first time this yearSubscription
Interserve wins legal row over axed EfW jobSubscription
Interserve wins £140m BBC FM contract extensionSubscription
Interserve bags major Birmingham regen schemeSubscription