News
Danny McCance 16 Oct 2017 03:40pm

EY brought in to advise on Interserve finances

Lenders to the struggling support services and construction company have hired the Big Four firm as a financial advisor

According to Sky News, a consortium of lenders including HSBC and Royal Bank of Scotland brought EY in amid fears over Interserve’s finances, after the company’s shares plummeted in September.

“Interserve confirms that it is engaged in constructive and ongoing discussions with its lenders,” a spokesperson for the company said.

“Work is underway to provide greater clarity on Interserve’s current trading and Energy from Waste provision, provided in the 14 September update announcement,” they added.

In September the company acknowledged that trading in construction and support services for the two months previous had been disappointing.

However, at the time it said it still felt able to “operate within banking covenants for the year ended 31 December 2017.”

Today, a spokesperson from Interserve stated that an update would be coming in the next few days.

EY has been contacted but were unable to comment.

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