A consortium of Thames Water creditors has appointed former Labour cabinet minister Lord John Hutton as independent chair designate of the utility, as part of a £10bn rescue bid that requires government approval. The group, known as London & Valley Water, announced the move on Tuesday as the debt-laden company serving 16 million customers in southern England continues to run out of cash.
company
Thames Water
UK water and sewerage utility
Prime Minister Andy Burnham has ordered officials to present more radical options for dealing with stricken utility Thames Water, including converting around £100m in outstanding environmental fines into a government stake in the company. The move is an early test of Burnham's promise to bring 'the essentials of life' under public control.
A south London bicycle shop has been forced to bar customers and send mechanics to work on the pavement after a putrid stench from a Thames Water sewer beneath the shop became unbearable.