Interserve: UK outsourcing giant loses rescue vote

Interserve: UK outsourcing giant loses rescue vote
 

Outsourcing giant Interserve has failed to persuade shareholders to approve a rescue plan for the company.
Interserve will continue to operate its contracts, but is expected go into administration later today.
Its collapse is likely to prompt further debate over the use of private sector contracts for public services.
The firm employs 65,000 staff worldwide, 45,000 in the UK, cleaning schools and hospitals, running probation services and in construction.
Shareholders voted 59.38% against the plan, which would have seen their stake reduced to just 5%, with lenders being handed the lion's... read more

 
Friday, 12:51 in Business, Views: 52
Source: BBC
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