“I am so fed up with this process” was the verdict of one person involved in the fraught Taylor Wimpey debt talks this week
They were referring to the latest delay in signing off a restructuring deal that has been more than six months in the making.
It had been expected that pen would be put to paper this month after chief executive Pete Redfern alluded to the date in a leaked email to staff in December. But now frustration is clearly setting in (although not to the extent that anyone is suggesting the plug will be pulled).
The source likened the rescue deal to a “War and Peace saga”, adding that more urgency from the accountants crunching Taylor Wimpey’s numbers would have helped.
There is a further set of numbers to be examined next week, which the source said should be the last hurdle – with the emphasis on ther word “should”. They added: “To tell you the truth this has been so numbing that I don’t even know if they are monthly or weekly figures.”
One City analyst said: “It doesn’t surprise me things are taking so long. The company is an amalgamation of a load of other companies and has pretty poor management and accounting systems.”
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