Engineering consultant White Young Green has announced a shake-up of its board and bought more time to agree a refinancing deal
In a trading update last week, the £282m-turnover firm said a covenant test date had been deferred by a month to 31 August, adding: “The board expects a further deferral of the date is likely to be requested.”
Its debt pile of £91m was amassed during an £85m spending spree, when it bought 18 firms in five years.
Meanwhile, it has appointed Mike McTighe non-executive chairman. He is currently chairman of digital TV company Pace and power cable group Volex. Graham Olver is now group services director and company secretary. He was previously commercial and operations director at Skanska Infrastructure Development.