Interserve appeared to be fighting for its survival last night as the company crashed through its banking covenants, sending shares in the construction and cleaning group plunging to new lows.
Interserve stock closed nearly 30% lower, 24p worse at 65p, after its latest profit warning that underlying earnings would more than halve while debts continue to soar.
At last night’s close, the company with £3.5bn of annual revenues was being valued by the stock market at just £95m.
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