Imtech writes off €100m on cancelled Polish projects

摘要

Dutch-based M&E giant Imtech, which has targeted a major UK expansion, initiated talks with its banks this week after being forced to write off €100m (£86m on projects in Poland. In a trading update on Monday (4 February) the €5.1bn (£4.4bn) turnover firm said it had been forced to make a "substantial write-off of at least" €100m on projects in Poland, meaning it would "no longer fulfil its covenants with lenders".