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Saturday, 20 December 2014

Barratt may need lenders' mercy

Bleak house

The UK housebuilder has a £1.7bn debt pile and a market capitalisation of just £300m. Its land bank can be run down for cash. But a rights issue would be tough after a 90% shareprice fall in a year. Further writedowns which look likely could mean the banks decide its fate.



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