--The U.K. government has approached a number of consultancies to become special administrators for debt-laden utility Thames Water, the Financial Times reports, citing unnamed sources.

--The FT says the government has approached Teneo, Interpath and EY, among others. to run the SAR, a temporary measure designed to keep services running and suppliers and staff paid in the event of a corporate collapse.

--The FT quotes one government official as saying there had been "informal engagement" with certain consultancies over a special administrator role but no formal interview process. "We are ready now, we could do one [SAR} today, if we had to," another official told the FT.

--The Department for Environment, Food and Rural Affairs, Thames Water and Ofwat didn't respond to requests for comment by the FT. EY, Teneo and Interpath declined to comment.

Full story: https://tinyurl.com/y6yxuf6t

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

January 24, 2025 01:36 ET (06:36 GMT)

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