Last month Interserve revealed the cost of quitting the waste-to-energy sector was proving to be even more costly than it had originally expected. In February Interserve raised its estimate of exit costs from 拢70m to 拢160m. In September it said that that number had risen 鈥渟ignificantly鈥� although it was not yet able to put a new figure on it.
Sky News reported over the weekend that Interserve鈥檚 lending banks, including HSBC and Royal Bank of Scotland, had called in accountancy firm EY to advise. EY is also helping Carillion restructure after its own recent heavy losses.
Interserve responded to the adverse reported with this statement: 鈥淚nterserve confirms that it is engaged in constructive and ongoing discussions with its lenders. Work is underway to provide greater clarity on Interserve's current trading and Energy from Waste provision, provided in the 14th September update announcement. A further announcement is expected in the coming days.鈥�
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