Interserve
http://dbpedia.org/resource/Interserve an entity of type: Thing
Interserve is a British construction and support services business based in Reading, Berkshire, which went into administration in 2019 and which is expected to be wound up in 2024. At that time, the group generated revenue of £2.2 billion and had a workforce of 34,721 people.
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Interserve
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Interserve Group Ltd
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Interserve Group Ltd
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3292683
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em
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Worldwide
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62.6
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68.8
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72.59999999999999
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74.7
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75.5
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78.5
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94.2
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108.4
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121.9
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183.2
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221.7
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232.3
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257.6
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300.8
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330.8
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355.1
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center
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1884
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Infrastructure - professional services, construction services, construction equipment hire and sale
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2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
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Interserve logo.svg
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£ million
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34721
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£ million
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Interserve plc
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R M Douglas Holdings
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Tilbury Douglas plc
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Tilbury Group plc
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Formwork Systems, Joinery products
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£2,241.7 million
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see [[#Operations
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Interserve Net Asset Value
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650
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Million Pounds Sterling
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Year
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Interserve is a British construction and support services business based in Reading, Berkshire, which went into administration in 2019 and which is expected to be wound up in 2024. At that time, the group generated revenue of £2.2 billion and had a workforce of 34,721 people. The company was founded in 1884 as the London and Tilbury Lighterage Company Limited. From 1991 it was known as Tilbury Douglas following a merger with RM Douglas, but in 2001 it rebranded as Interserve plc. The name change partly reflected a shift in focus during the 1990s towards maintenance and facilities management services sectors, and this continued in the 2000s, buoyed by further acquisitions. However, financial issues including problem contracts in Interserve's energy-from-waste business led to profit warnings in 2017. The company was forced to restructure and refinance in March 2018. After its financial situation worsened in late 2018, debt holders discussed further financial restructuring of the business. A debt-for-equity plan was rejected in March 2019, and Interserve plc went into administration owing creditors over £100m. In a pre-pack deal, the rest of the group was immediately sold to a newly incorporated company owned by lenders, Interserve Group Ltd, and a break-up of the company followed. Interserve's facilities management business was sold to Mitie in December 2020, and RMD Kwikform was sold in October 2021 to France's Altrad. In March 2021, Interserve resurrected the Tilbury Douglas brand for its construction and engineering services businesses. Interserve plc was formally wound-up in the High Court in January 2022. In June 2022, Tilbury Douglas fully separated from Interserve Group and became a standalone construction contracting company. Some smaller assets are expected to be sold before Interserve Group is finally shut down in 2024. In October 2022, Interserve was fined £4.4 million for a breach of data protection law in May 2020.
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34721
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2241.0
