THAMES Water has warned that it will run out of money by the end of next May, as the heavily indebted company intensifies efforts to secure fresh funding.
Britain's biggest water firm, which is creaking under a debt pile of more than £15 billion, said yesterday that it had £1.8bn of cash reserves at the end of June, a fall from £2.4bn three months previously.
The firm said it is still looking for new funds needed to maintain and update its infrastructure, after investors pulled the plug on £500 million of emergency cash earlier this year.
Chief executive Chris Weston said Thames had taken "informal soundings which have shown there is interest in the market".
He added that the company will be looking at a "broad church" of potential investors which could include existing shareholders.
Esta historia es de la edición July 10, 2024 de Manchester Evening News.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición July 10, 2024 de Manchester Evening News.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Key: Ben could be white ball skipper
ENGLAND could spring a surprise by asking Ben Stokes to take charge of their ailing white-ball side, with managing director Rob Key admitting “it would be stupid” not to consider the Test skipper.
Defender learns trade against the best there is - Haaland
CITY have a decent record of producing excellent defenders in their academy but very few have made it into the first team.
UNTOUCHABLE TRIO SET CITY BENCHMARK AS GUARDIOLA PLOTS RETURN TO THE TOP
HOW on earth do City attack the next few weeks?
BOSS - I TOOK GARNA OFF BECAUSE HE WAS TIRED
RUBEN Amorim substituted Alejandro Garnacho during United's Europa League draw with Real Sociedad as he was becoming 'late' to defend.
Just Eat launches first drone deliveries
JUST Eat Takeaway has initiated its first drone-operated food deliveries, marking the beginning of a significant rollout in collaboration with Manna Drone Delivery.
Salford team option 'unfair'
CASTLEFORD owner Martin Jepson has criticised the 'unfair' handling of Salford's latest salary-cap sanction and claimed the ongoing uncertainty over tonight's Betfred Super League fixture is set to cost his club money in lost ticket sales.
Hacksaw found days after human remains
PROSECUTION CLAIM 'LOW LEVEL DNA PROFILE' OF VICTIM WAS NEAR HANDLE
'There was more here for us tonight...'
JOSHUA Zirkzee felt United deserved more from their Europa League last-16 first leg tie with Real Sociedad than a draw after a penalty had gifted the La Liga side a route back into the game.
THUG ATTACKED 96-YEAR-OLD IN HOUSE RAID
BRUTE TARGETED ELDERLY DURING SPATE OF ROBBERIES
Woman found dead days after 'getting stuck in tram doors'
AN 88-year-old woman who was seen 'getting stuck in tram doors' while it was stationary was tragically found dead a week later.
