Interserve: Major Government Contractor Seeks Second Rescue Deal
Monday 10 December, 2018 Written by Simon Collyer
The company was founded in 1884 as the London and Tilbury Lighterage Company Limited and retained the Tilbury name until 2001. From 1991 it was known as Tilbury Douglas following a merger with RM Douglas, but in 2001 rebranded as Interserve plc. On 4 May 2012 the company acquired "Welfare-to-work" provider Business Employment Services Training (BEST), a UK provider of training and development for job-seekers and employers.
Operating in many sectors, like Carillion another government contractor that ran into financial trouble, the Company is struggling with £500m of debt.
The Labour party leadership - ideologically opposed to the role of private companies in the provision of public services - has insisted that no new government contracts should be given to the company while it is in its current state.
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