Thames Water begs creditors for £2.4bn emergency cash or it will go bust by early 2027
Thames Water, which serves 16 million customers and carries around £20bn in debt, has warned it will run out of money by early 2027 without £2.4bn in fresh emergency funding from creditors.
Thames Water has warned it will run out of money by the end of 2026 or the start of 2027 unless creditors hand over another £2.4bn in emergency funding. The UK's largest water company, serving 16 million customers across London and the Thames Valley, has already burned through most of a £3bn lifeline granted in February 2025. It now admits it cannot complete a long-term debt restructuring deal before the cash runs out.
Thames Water is sitting on a debt pile of around £20bn after its shareholders walked away, leaving American hedge funds including Elliott Management and Silver Point Capital effectively in control.
Senior creditors are reportedly close to a separate deal among themselves to avoid a court challenge that could derail any restructuring agreement.
