1,000 more jobs to go at Interserve

TROUBLED Interserve could slash 1,000 more jobs in its bid to stave off bankruptcy.

The layoffs would be on top of about 500 made so far by the outsourcer and could be pushed through before the end of the year, it is understood. Bosses are fighting to secure funds from lenders.

Interserve was handed £180m of emergency cash in October but that is due to run out at the end of this month. It is trying to strike a longer-term deal with lenders but has been hampered by widespread concern about outsourcing companies.

Debbie White, chief executive, admitted to analysts that the company expanded too quickly under her processor Adrian Ringrose into areas where it had little experience, according to the Financial Times.

Interserve’s efforts to reach a refinancing deal received a boost over the weekend, however, when family investment office Emerald Investment emerged as a backer.

A spokesman for Interserve declined to comment yesterday.