Water company tells creditors it will not survive long enough to agree refinancing deal without more money

Thames Water has asked its creditors for another £2.4bn as the embattled water company comes close to running out of cash.

The UK’s largest water company said on Thursday it needed another short-term cash injection because it would be unable to reach a longer-term deal to sort out its giant debt pile before running out of cash by “the end of 2026 or the start of 2027”.