Interserve debts

Interserve shares have collapsed (Click to enlarge)

Shares in Interserve - one of the UK's largest private providers of public services - have collapsed after it announced it has Ł500 million worth of debts. Interserve is the largest private provider of public services. For example, at King George Hospital in east London (whose A&E is under threat of closure) Interserve has a Ł35 million contract for cleaning, security, meals, waste management and maintenance. It also has its fingers in infrastructure projects and even probation.

The revelations follow the collapse of Carillion in January. Like then, we call for all the contracts and services to be brought back in house by the government and for every job to be saved.

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The coronavirus crisis has laid bare the class character of society in numerous ways. It is making clear to many that it is the working class that keeps society running, not the CEOs of major corporations.

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