Interserve, the British outsourcing company, has presented a rescue plan to banks in an attempt to secure fresh funding, with fears over its future raised by the demise of rival contractor Carillion.

Interserve, which cleans the London Underground and manages the Ministry of Defence’s estate in the UK, has already warned on profits and delayed a test on its banking debt covenants until the end of March. It has secured £180m of additional short-term funding until then.

On Thursday, the company met with eight banks including Barclays, Lloyds Banking Group, RBS, MUFG, Sabadell and HSBC to present a revised business plan and request fresh funding for the company. The proposals are under consideration but no decision has yet been reached. Interserve declined to comment.

Attention has turned to Interserve following the collapse of its former rival Carillion, and in the wake of a profit warning that knocked nearly £1bn off Capita’s market value last week.

Source: Interserve in crucial funding talks with banks

Vox Political needs your help!
If you want to support this site
but don’t want to give your money to advertisers)
you can make a one-off donation here:

Donate Button with Credit Cards

Here are four ways to be sure you’re among the first to know what’s going on.

1) Register with us by clicking on ‘Subscribe’ (in the left margin). You can then receive notifications of every new article that is posted here.

2) Follow VP on Twitter @VoxPolitical

3) Like the Facebook page at

Join the Vox Political Facebook page.

4) You could even make Vox Political your homepage at

And do share with your family and friends – so they don’t miss out!

If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!

Buy Vox Political books so we can continue
fighting for the facts.

The Livingstone Presumption is now available
in either print or eBook format here:

HWG PrintHWG eBook

Health Warning: Government! is now available
in either print or eBook format here:

HWG PrintHWG eBook

The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here: