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.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children