Thames Water prepares debt contingency plan as it warns on cash

Thames Water prepares debt contingency plan as it warns on cash

Crisis-hit Thames Water has warned its cash remains on track to run dry by the end of May next year due to a lack of new investment, forcing it to prepare a plan for its lenders. The country's biggest water company, which serves almost a quarter of the population, previously said it had £2.4bn of liquidity as of the end of March. The company said on Tuesday that the sum had fallen to £1.8bn by the end of June. Cash-strapped …