Thames Water: Why does the struggling water firm need emergency funding?

Thames Water has proposed a new funding deal to keep it operating until October next year (Alamy/PA) -

Thames Water has said it is seeking up to £3 billion in emergency loans in order to stay afloat until at least October next year.

The proposals would see the supplier borrow an initial £1.5 billion from its creditors, amid concerns the company could run out of cash early next year.