UK’s biggest water company says all funds may be ‘exhausted’ if it fails to secure court approval for £3bn lifeline and could risk temporary nationalisation

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Another update from embattled Thames Water: the UK’s biggest water company warned this morning that it will run out of cash by the end of March without an emergency debt deal.

Today’s news demonstrates further progress to put Thames Water onto a more stable financial footing as we seek a long-term solution to our financial resilience.

Ashtead is substantially a US business, reporting in US dollars, with almost all the group’s operating profit derived from North America, which is also the core growth market for the business.

The group’s executive management team and operational headquarters are based in the US and the vast majority of the group’s employees reside in North America.

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