South East Water says it needs more cash from investors to stay afloat ahead of a ruling on its future spending plans by water regulator, Ofwat.
The water firm, which supplies about 2.3 million customers in Kent, Sussex, Surrey, Hampshire and Berkshire, said it was in discussions with lenders and shareholders in a results statement, external published on Wednesday.
It is already on watchdog Ofwat’s watch-list for financially-at-risk companies, alongside Thames Water.
“If it is not possible to raise the additional liquidity, the group and therefore company would not have sufficient liquidity for the going concern period,” the results statement said.
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