Quote Originally Posted by MacAdder View Post
I'm sure I heard that TC were in debt to the tune of 1,600million pounds.

Their official stance is that it was an unsustainable business model which has been failing for a long time and ploughing money in would have just delayed the inevitable.

Hard to really argue with the decision.
But £200m was the shortfall. They had £900m coming in from their shareholder and other creditors. It’s quite normal to retain sone level of debt in large companies and it’s poor that it’s been allowed to fail.