Sunday, June 29, 2008
Another f’d company
Beleaguered housebuilder Taylor Wimpey is reportedly finalising an emergency multi-million pound fundraising plan as it suffers in the face of a property market slowdown. The firm is said to be hoping to unveil a deal this week, possibly ahead of its trading update on Wednesday, that will see its biggest investors pledge up to £500 million to boost its battered balance sheet. Taylor Wimpey is also understood to be in talks with its banks to relax agreements on debt that it is thought to be close to breaching.