LONDON — Thames Water, Britain’s largest water company, said Tuesday it’s hunting for fresh funding to keep the business afloat, even as the heavily indebted company warned it would run out of money by the end of May.
Thames Water provides water and sewage services to some 16 million customers in London and the Thames Valley region. It has spent the past year fighting to avoid being taken over by the government. “It can still tap funding of around 1.8 billion pounds, until spring next year, but it’s a reservoir that’s been shrinking. At the same time, its debt pile is an even bigger millstone and risks pulling the business under,” Streeter said.
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