Interserve administration sees Glasgow EfW client write-off more cash

By Will Ing2019-03-25T12:11:00

Viridor wants £72m from Interserve but admits it might now only get £56m

The firm which threw Interserve off an energy-from-waste job almost three years ago has again reduced the amount of money it expects to see from the contractor as it grapples to get “clarification” on what its administration will mean.

Viridor’s parent, Pennon, said in a trading statement it still recognises a gross receivable of £72m due from Interserve’s construction business for its botched work on an incinerator in Glasgow.

And while it has previously reduced the sum it expects to see by £8m, it has now doubled the provision against the receivable to £16m.

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