EDDC HQ contractor’s shares plunge to 6p – in 2014 they were worth 700p!

Perhaps using local companies would have been less risky!

“The crisis surrounding outsourcing firm Interserve intensified on Monday as its shares lost more than 75% of their value, crashing to just 6p, as the government contractor battles to negotiate its second rescue deal this year.

The heavily indebted group, which has thousands of government contracts such as cleaning hospitals and serving school meals, said the rescue plan would mean substantial losses for shareholders as the banks that have lent Interserve more than £600m take control of the company. It hopes to wrap up a deal early next year.

Interserve’s shares plunged to 6p in early trading, giving it a market value of less than £9m. At its peak in 2014, the shares were worth more than 700p….”

https://www.theguardian.com/business/2018/dec/10/interserve-shares-rescue-plan-carillion

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