BusinessBusiness RecoveryAdministration still a threat at British Energy

Administration still a threat at British Energy

Despite securing a £410m government loan, embattled nuclear power generator British Energy may still go into administration, according to a senior government official.

Link: Government bail-out rescues British Energy

Jim Godfrey, an adviser to the Secretary of State for Trade and Industry, is reported to have said: ‘We have acted swiftly when the full extent of financial difficulties became clear to us, but it is too early to say.’

‘The government is not ruling out administration for the company.’

In a statement the Department of Trade and Industry said the support package would last until 27 September ‘pending clarification of the company’s full financial position’.

‘No decisions have been taken, and no commitments have been given about support beyond this period,’ the DTI said.

A spokesperson for British Energy declined to comment on the financial position of the company, only to say that it was ‘in discussion with the government’.

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