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Tag Archives: Interserve

Interserve owed creditors in excess of £100m

Companies House filings show Interserve owed its creditors in excess of £100 million when it went into administration in March 2019. In total, Interserve owed £55.4 million to its secured creditors and another £50.5 million to its unsecured creditors. The ...

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Interserve wins M&E contract with Crown Paints

Interserve Group Limited has been awarded a national contract to deliver mechanical and electrical maintenance services to paint manufacturer, Crown Paints Limited, part of the Hempel Group. Crown Paints recently changed its supply strategy by moving to a single services ...

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Knauf Airless Finish wows at new Sir Robert Ogden Cancer Centre

Knauf Airless Finish, part of the Knauf Readymixed Finishes range (RMF) was specified on a project led by construction giant Interserve to build a new care centre for Macmillan Cancer Support and South Tees Hospital NHS Foundation Trust in Northallerton, Yorkshire. For such a well-known client, it was important to design ...

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FRC opens investigation into Interserve financial statements

UK audit watchdog, the Financial Reporting Council (FRC) has commenced an investigation into the audit by Grant Thornton UK LLP of the financial statements of Interserve Plc for the years ended 31 December 2015, 2016 and 2017. The investigation will ...

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Interserve completes sale of the Group

International support services, construction and equipment services group, Interserve, has announced the appointment of Alan Hudson and Hunter Kelly of Ernst & Young LLP as administrators to Plc and the successful completion of the sale of the Group, other than ...

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Interserve: faces crunch vote on rescue plan

Interserve faces a crunch vote on Friday over its proposed rescue plan. If shareholders fail to back the debt-for-equity deal, the firm could go into administration by the weekend. The firm employs 65,000 staff worldwide, 45,000 in the UK, cleaning schools and ...

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Interserve issues statement regarding deleveraging plan

The Interserve Board has confirmed it has been in discussions with majority shareholder, Coltrane Asset Management, and its lenders, which have sought to establish the basis on which Coltrane would support the company’s restructuring proposal. On Monday (4 March) Interserve announced ...

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Interserve rejects Coltrane Asset Management’s rescue proposal

The Interserve Board has rejected the proposal received on Monday (4 March) from its largest shareholder, Coltrane Asset Management, who are opposed to the Company’s deleveraging plan, following a review with its advisors. The Coltrane Proposal requires the consent of ...

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Interserve results better than expected as deleveraging plan gets underway

Services provider Interserve published a slightly strong set of full year results than expected, for although revenues declined to 10.7 per cent to £2,904.0 million, this compares favourably to 2017 which saw a loss of £244 million; while its operating ...

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Interserve announces deleveraging plan details

Following its 6 February 2019 announcement, the Interserve Board has  provided details of its proposed Deleveraging Plan, which it states has been agreed with all of the company’s lenders, bonding providers and the Pension Trustee. The key elements of the ...

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