Eurotunnel could face bankruptcy

Contributed by editor on Jun 12, 2005 - 09:31 PM


Channel tunnel operator Eurotunnel could be bankrupt by the autumn warns chairman Jacques Gounon.

He told the Sunday Times that he has given himself until October 2005 to see if there is a realistic chance of reaching an agreement with creditors.

The company is holding a board meeting tomorrow (13 June) and has its annual shareholder meeting o­n Friday.

Gounon is expected to face calls led by Nicolas Miguet, who helped organise the campaign that led to their entire board being sacked last year, to block his re-election.