Interserve rescue plan agreed

One of the interesting things about writing a news service like this in advance is that you can end up as a hostage to fortune. So I’m about to write this piece, based on news from Civil Service World, that suggests that the troubled company Interserve in the UK has an agreement on rescuing its finances in place.

I’m typing on late Thursday afternoon by the way, and this news item will go out – as do they all – on Friday lunchtime.

It appears odd-on to work, though, and follows talks with the Cabinet Office and debtors – Interserve looks as though it’s not so much dodged the bullet as negotiated and planned a sensible strategy to avoid it. The plan is to slash debts by over half and borrow a further £75m from lenders in order to weather the current crisis and get back on track.

Intelligent Sourcing wishes all parties well – why wouldn’t you? And we hope this story is still correct by the time the automated system publishes it.

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