Lenders to consulting engineer White Young Green have agreed to defer a covenant test to the end of July
The 拢282m-turnover firm is thought to be in danger of breaching its net debt-to-EBITDA (earnings before interest, tax, depreciation and amortisation) covenant.
Its debt pile of 拢91m was amassed during an 拢85m spending spree during which the firm bought 18 companies in five years.
This week it described trading as 鈥渕ixed and challenging鈥� and reiterated that it would incur 鈥渟ignificant exceptional costs鈥� in the year to 4 July 2009.
The company plans to raise an estimated 拢40m from investors.
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