Barratt close to securing debt deal July 10, 2008 Housebuilder Barratt Developments is today expected to reveal it has managed to renegotiate a refinancing package with its bankers. Barratt, which has £1.7bn debt and a market capitalisation of just £140m, has been negotiating with lenders to extend repayment of £400m debt due in April , as well as agree changes to its debt covenants [...]
Double dose of corporate woe leaves City investors reeling July 3, 2008 The city was left reeling yesterday after retail giant Marks & Spencer issued a shock profits warning and Britain’s largest housebuilder Taylor Wimpey admitted it had been unable to secure £500m in funding. The bleak news from M&S, an industry bellwether, that the consumer downturn was likely to be “longer and harder fought” than previously [...]
Emergency share issue on the cards for Taylor Wimpey July 1, 2008 Confirmation from the UK’s largest housebuilder, Taylor Wimpey, that it is seeking to shore up its balance sheet will start a wave of refinancing across the sector, analysts warned yesterday. The housing company said it expects to write down the value of its land bank by around £660m, and revealed it was in talks with [...]
Westbury hit by slump in house sector October 26, 2005 Housebuilder Westbury reported a slump in first-half profits yesterday amid tough times for the British housing sector. It revealed that pre-tax profits for the half year to 31 August fell by 26 per cent to £45.4m on falling sales. It sold £415m of homes compared to £427 last year. Chairman Geoffrey Maddrell, said: “The market [...]