Thames Water has brought in an insolvency veteran, who cut his teeth in the unravelling of the Robert Maxwell empire 30 years ago, to oversee its attempts to recapitalise the business and avoid sliding into administration.
The stricken water monopoly has appointed Julian Gething as its chief restructuring officer, a new role at the company.
His appointment could be seen as a tacit admission of the difficulty of the task facing the current management team in cutting a deal with creditors and finding new equity investors.
The team includes the chairman Sir Adrian Montague, an old hand in overseeing troubled public interest companies; the former British Gas boss Chris Weston, who came in as Thames chief executive at the start of this year;…
