UK ministers appoint insolvency advisers for Thames Water collapse ‘contingency plans’
UK ministers have lined up insolvency practitioners to prepare for the potential collapse of Thames Water, Britain’s biggest water company.
Steve Reed, the environment secretary, has signed off the appointment of FTI Consulting to advise on contingency plans for Thames Water to be placed into a Special Administration regime (SAR), in news first reported by Sky News.
This puts FTI Consulting as the frontrunner to act as the company’s administrator if it fails to secure a private sector bailout – although such an appointment would take place in court.
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