BusinessBusiness RecoveryTube operator faces insolvency

Tube operator faces insolvency

London Mayor admits tube operator could collapse

Mayor of London Ken
Livingstone has admitted that major tube operator Metronet could face
insolvency.

Metronet
, which handles nine of 12 tube lines, is struggling to handle a projected
£750m overspend on work to revitalise the tube system, said Livingstone.

Livingstone said that shareholders in Metronet, including Balfour Beatty and
WS Atkins, could choose insolvency for the company if it cannot manage its debt
situation, reported
The
Guardian
.

Further reading:

Insolvency’s
a rough old job

Insolvency rules lead to retail collapse fears

Insolvency rules lead to retail collapse fears

Related Articles

EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

2m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

3m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

5m Alia Shoaib, Reporter
Manor Racing Formula One team company enters administration

Business Recovery Manor Racing Formula One team company enters administration

8m Stephanie Wix, Writer
Oil and gas sector insolvencies hit “new high”

Accounting Firms Oil and gas sector insolvencies hit “new high”

9m Stephanie Wix, Writer
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

6m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

7m Emma Smith, Managing Editor
Business confidence drops to second lowest level since 2011

Business Recovery Business confidence drops to second lowest level since 2011

8m Stephanie Wix, Writer