Interserve’s Quick Uber‑Style Rescue Plan
Just a few hours after the stock took a brutal 60 % hit to £10.25p, Interserve’s executive team pulled a magic trick: they tapped a handful of bankers to pull together a needle‑in‑the‑hay restructuring.
Sky News Sound‑Off
“Interserve lenders bank on a £600 million rescue plan” – the Sky News Business tweet https://t.co/YRpNTdjMyH made the headline.
Lazard & EY Join the Party
Interserve’s creditors have hired Lazard to map out a debt‑to‑equity swap. EY is also on the side of the lenders, keeping a close eye on the whole operation. It’s basically a collaboration of the financial world’s best framework builders.
CEO Comment from Debbie White
Debbie White told the Evening Standard that the lender partnership is solid. “The deleveraging plan will give Interserve a strong long‑term capital structure and provide a solid foundation,” she said, giving her company—and its 45,000‑strong workforce—a fighting chance.
Why It Matters
- Interserve is one of the UK’s biggest private‑sector contractors, so a stable capital base is a big win for the whole industry.
- With a refreshed balance sheet, the firm could weather the storm and keep jobs safe.
In short, Interserve’s strategy is all about bringing the lenders together, swapping debt for equity, and giving the company a long‑term, robust capital cushion. The clock is ticking, but the plan looks more promising than a midnight pizza delivery at an empty office.
