Thames Water lenders submit rescue plan to stave off collapse

Thames Water lenders have submitted a rescue plan to prevent the collapse of the UK's largest water company, proposing to write off a third of its £20bn debts and improve services. The plan aims to rebuild the company without taxpayer funding, with a consortium planning to inject £5.4bn to stabilize the firm's finances. Facing heavy criticism for sewage spills, Thames Water's future depends on reaching an agreement with regulators and implementing performance targets to restore public trust.