The crisis enveloping Thames Water has deepened after its holding company announced it had been unable to meet debt repayments.
Kemble Water said it missed an interest payment that was due on Tuesday.
The firm said it had asked its lenders to take no immediate action so as to “provide a stable platform while all options are explored”.
The announcement paves the way for a potential restructuring of Thames Water, which serves nearly a quarter of Britain’s population.
Sky News revealed last week that the company’s shareholders had decided not to proceed with a promised £500m equity injection amid an impasse with Ofwat, the industry regulator.
Dutch banking giant ING is among Kemble Water’s lenders, Sky News revealed on Thursday.
The firm provides water and sewage services to 15 million customers across London and southeast England.
When asked for a statement, Thames Water referred Sky News to Kemble Water.
This breaking news story is being updated and more details will be published shortly.
Please refresh the page for the fullest version.
You can receive breaking news alerts on a smartphone or tablet via the Sky News app. You can also follow @SkyNews on X or subscribe to our YouTube channel to keep up with the latest news.
Source link
Post comments (0)