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Thames Water is navigating a financial crisis with two competing rescue packages from creditors. The UK’s largest water supplier, burdened by £15 billion in debt, is at risk of insolvency as it seeks to restructure its finances amid rising public discontent over pollution and high dividends.
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Thames Water has gained crucial backing from 75% of its Class A bondholders for a £3 billion emergency funding package, aimed at preventing its collapse. The company, burdened with £15 billion in debt, is seeking court approval for the deal, which could stabilize operations until late 2025.
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United Utilities faces backlash for allegedly discharging untreated sewage into Windermere, leading to toxic algae blooms and fish deaths. Campaigners demand transparency and action to restore the lake's health, citing a significant increase in pollution incidents over recent years.
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Thames Water is on the brink of collapse due to decades of financial mismanagement and urgent infrastructure needs. With £23 billion in assets requiring repair and a £15 billion debt burden, the company struggles to maintain water supply for 16 million customers, raising concerns of potential renationalisation.