An urgent investigation into the collapse of Thomas Cook ordered by the government is “too little too late” according to Unite, which said ministers had failed to learn the lessons from the Carillion…Read more…
‘Industrial relations mess’
Unite is warning that outsourcing giant Mitie should be barred from acquiring contracts from Interserve due to its woeful treatment of its workforce and its very poor industrial relations record….Read more…
Outsourcing hell – continued
If anyone were in anyone doubt that the outsourcing sector is in big trouble, Friday saw Interserve’s precarious position finally resolved. The major shareholder – US hedge fund Coltrane Asset Management – voted against the proposed debt-for-equity swa…Read more…
Bandit capitalism strikes again
Outsourcing giant Interserve has gone into administration but will continue trading following the rejection of a controversial rescue package by its shareholders today (March 15). Coming a…Read more…
Interserve contracts must be bought back in-house, says UNISON
Firm’s collapse another example of catastrophic failures of privatisation
The article Interserve contracts must be bought back in-house, says UNISON first appeared on the UNISON National site.Read more…
Interserve warning
The wellbeing of Interserve’s 45,000 UK workforce and it supply chain are being ignored, Unite warned (March 13) as the company totters on the brink of administration. Interserve has thousands…Read more…
Interserve & hedge funds
The ongoing battle at Interserve is grimly fascinating. The company’s biggest shareholder is hedge fund Coltrane Asset Management which is trying to scupper the board’s plans for a debt-for-equity swap. This would (obviously) be bad news for existing s…Read more…
Outsourcing iceberg
A plan to rescue to beleaguered public sector outsourcing giant Interserve announced by the firm’s bosses today (6 January) is not guaranteed to work, Unite has warned.
The post Outsourcing iceberg…Read more…
Interserve / Kier Group short selling update
Update on my update: I’m reliably informed that other data sources suggest the actual total short position in Kier Group is more than double that in the FCA list. Interserve 50% higher than the totals on the FCA list.
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‘Carillion Mark Two’?
Another Carillion may be on the horizon, Unite has warned, as outsourcing firm Interserve’s shares plummeted this morning (December 12) and its future hangs in the balance. Interserve, which…Read more…
Interserve / Kier Group short selling etc
Following on from Kier Group (and Carillion, of course) it looks like Interserve is facing some serious financial pressure. According to the FT there are “rescue” talks underway that involve a debt for equity swap that would largely wipe out existing s…Read more…