Jarvis pushes for restructuring sell-off
Troubled engineering and construction company Jarvis has warned of an even bleaker future if it cannot complete a financial restructuring soon.
Bosses at Jarvis want shareholders to approve a series of property sell-offs, worth some £25m.
The money is need if the restructuring cannot be agreed by the end of next month.
Jarvis is looking to dispose of properties close to York railway station, and dispose of its stake in the London Underground Tube Lines consortium.
Jarvis’s shares have lost about 90% in value since the start of 2004.
Earlier this year Jarvis was stripped this year of lucrative school building and road projects.