BusinessCompany NewsDeloitte to run the rule over Mouchel’s cashflow

Deloitte to run the rule over Mouchel's cashflow

Advisers to gauge effect of falling government contracts on Mouchel's future cashflow

LENDERS TO MOUCHEL have called in Deloitte to undertake a review of the engineering firm’s business model after a drop in government contract wins.

Mouchel is attempting to refinance is £190m debt with a lending syndicate that include RBS, Barclays and Lloyds. The review will focus on how a fall in government contracts will affect Mouchel’s future cashflow, reported the Daily Telegraph.

If the banks lend more to Mouchel, it would likely be at a high rate that would require an emergency rights issue, the Telegraph added.

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