An insider told the BBC that if it was not for the firm’s huge debt pile, Thames would be in reasonable shape financially.
In its latest results, it reported a profit before tax of £249.6m – 20% up on the year before.
But the company could run out of money within the first three months of 2025, which is why its creditors secured a lifeline of up to £3bn to be released in two tranches, the first £1.5bn of which could be released in February.
The survival of the company depends a cash infusion from investors during this time, although water supplies will not be affected by the outcome.
One in four people in the UK rely on Thames and its customers are facing a steep rise in bills.
