An government insider has been quoted in the FT as saying, administration, originally seen as a measure of last resort, was now ‘very much an option’.
The newspaper also said analysis of the ‘figures’ suggested it would cost the taxpayer less to put the company into administration, then to keep it running with state support.
British Energy has secured a £410m loan facility from the government, but must outline a financial restructuring plan by 27 September when the loan arrangement lapses.
A spokesperson for British Energy declined to comment.
Political and economic uncertainty behind the fall in confidence
Just Racing Services, operating company of the Manor Racing Formula One team has entered administration
Last year 16 oil and gas companies became insolvent, finds Top Ten firm Moore Stephens
Team Rock the publication of classic rock is in administration with FRP Advisory