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Interserve to go into administration after rescue deal rejected

  • 📰 The Guardian
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Ownership will fall to lenders but company can continue trading and operating public services

Government contractor Interserve is to go into administration after its largest shareholder, the US hedge fund Coltrane, led a rebellion against financial restructuring plans drawn up by the company’s lenders.

 

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Government outsourcing firm Interserve faces administrationThe company that employs 45,000 people is near collapse under £670m of debt. Yeah... That's our money. Failing Grayling at it again 🤦 And another one bit the dust......
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