The UK’s largest water company has warned its creditors it faces an urgent cash shortfall, requesting an additional £2.4 billion to avoid collapse before the end of next year. Thames Water insists it cannot secure a long-term refinancing agreement without further funding, raising concerns about its financial stability. With cash reserves dwindling, the company’s plea highlights deepening pressure on its debt-laden operations. Creditors now face a critical decision as the company teeters on the brink of insolvency.
Water company tells creditors it will not survive long enough to agree refinancing deal without more moneyThames Water has asked its creditors for another £2.4bn as the embattled water company comes close to running out of cash.The UK’s largest water company said on Thursday it needed another short-term cash injection because it would be unable to reach a longer-term deal to sort out its giant debt pile before running out of cash by “the end of 2026 or the start of 2027”. Continue reading...
