Now Taylor Wimpey in Scramble Over Borrowings ; House Building

Summary

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Taylor Wimpey, parent company of Bryant Homes, yesterday held out the prospect of renegotiating the terms of some of its borrowing agreements before it breaches its banking covenants early next year.

Early last month, the builder of more British homes than any other company, failed in an effort to raise pounds 500 million of new capital and embarked on drive to raise cash and cut costs. Bryant offices in Wolverhampton and Leicester were among those earmarked for closure.

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Now Taylor Wimpey in Scramble Over Borrowings ; House Building

Aspokesman said yesterday that all the 900 individuals losing their jobs have now been told. Write-downs totalling pounds 1.546 billion dr...

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