The future of the 45,000-strong UK workforce should be secure despite investors dismissing the debt-for-equity swap plan.
Interserve's financial woes stem from depleted margins on major contracts and a disastrous foray into the waste-to-energy sectorOutsourcing firm Interserve is on the verge of administration after investors rejected a rescue deal that would have seen their holdings slashed and lenders seize control.
Interserve had been working on the contingency plan in advance of the vote to prevent a possible repeat of the messy Carillion-style demise in 2018 that left its staff and contracts - including many in the public sector - in limbo.
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