It’s business ‘as usual’ at Interserve…

Placed into administration on Friday, as Interserve shareholders voted against the company’s re-structuring plan, the company is today (Monday) under new ownership and saying it’s “business as usual for employees, customers, suppliers, and other stakeholders”.

Shareholders blocking the plan had been foreseen as the likely outcome of the vote and administrators had pre-planned the sale of the entire business to a new company owned by the banks. Given that all Interserve companies remain solvent because of the deal this is great news for the supply chain. Emma Milward – ‘Interserve’ Marketing & Communications – says on the company’s social media channels, “Yes, rest assured there will be no delay to payments. Customers & sub-contractors will see no difference to our services as we continue to trade as normal.”

So same group, same structure, just that all the previous shareholders have been replaced by the banks. The new company will be renamed to ‘Interserve Group Ltd’ in the next couple of days.

More information is available from Interserve and here:

Construction Index Article

Reuters Article

Construction Enquirer Article

Interserve Twitter News

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