Interserve will report to the stock market as early as tomorrow on the depths of its financial crisis after it emerged that it had brought in restructuring accountants from EY, sending its shares to record lows.
The construction company, which also acts as an outsourced caretaker and cleaning contractor, was forced yesterday to issue a statement, albeit a brief one, on the news that EY had been hired at the behest of HSBC and Royal Bank of Scotland, its two main bankers.
“Interserve confirms that it is engaged in constructive and ongoing discussions with its lenders”, the statement said. “Work is under way to provide greater clarity on Interserves current trading and energy-from-waste provision, provided in the September 14 update announcement.”
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