Ineos, the chemicals giant may call in experts from PricewaterhouseCoopers
after the company completes its a probe of its business plan.
The company is in the advance stages of talks with its bankers to waive
banking covenants on 5bn euros (£4.2bn) of loans until the second quarter of
2009, PwC may be appointed in an advisory capacity further down the line.
The firm may to take a look at its revised business model ‘towards the end of
the first quarter of 2009,’ a source close to Ineos said.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
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