Thames Water Faces Bankruptcy, Seeks £3 Billion Loan Amid £19.5 Billion Debt and £800 Million Fees

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Updated Mar 14, 2025, 10:00 AM

Thames Water is facing a critical financial situation, claiming it requires £3 billion in the coming weeks to avoid bankruptcy. The proposed emergency loan involves an initial payment of £1.6 billion, with £800 million allocated for fees and interest. This situation has raised concerns among regulators and the public, with warnings that taxpayers will bear the consequences if the company collapses. Thames Water is already burdened with £19.5 billion in debt, and the additional £3 billion could lead to increased customer bills. The company has faced scrutiny for its financial practices, with accusations of profiteering from the emergency loan, which has reportedly allowed investment firm Pimco to secure a 17% profit. Amidst this turmoil, an 'Emergency Board' has been established to address the crisis, as the government and regulators are pressured to take action.

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Sources

bbc.com(2)reuters.com archive.ph bylinetimes.com

Feargal Sharkey

@Feargal_Sharkey

"The Great British Sewage Dump." It's not just our rivers that are being destroyed by water companies, it's people's livelihoods. Today's long read. https://t.co/TlQSVoqvTU