Interserve formally applies for administration

By Will Ing2019-03-15T15:25:00

Suppliers due to be paid under new arrangement, with lenders writing off moree than £800m of debt

Interserve has formally applied to enter administration, with a new company owned by its lenders set to take over the business in the coming hours.

At a general meeting this morning shareholders voted against the management’s rescue deal by 60:40 – leaving lenders including RBS, HSBC and BNP Paribas to send the company under.

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

Limited access to building.co.uk
Breaking industry news as it happens
Breaking, daily and weekly e-newsletters

Get your free guest access SIGN UP TODAY

Subscribe now for unlimited access

Subscribe to Building today and you will benefit from:

Unlimited access to all stories including expert analysis and comment from industry leaders
Our league tables, cost models and economics data
Our online archive of over 10,000 articles
Building magazine digital editions
Building magazine print editions
Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community