Thames Water is facing a critical moment as lenders, led by London & Valley Water, have proposed a rescue plan aimed at preventing the company's collapse. This plan includes writing off a portion of Thames Water's substantial debts, which could provide much-needed relief and stability for the utility. The situation is significant not only for the company but also for the millions of customers who rely on its services, highlighting the importance of financial restructuring in maintaining essential public utilities.

Thames Water's senior creditors are stepping up to save the struggling utility by offering £5.4 billion in new funds and agreeing to a significant write-down on existing debt. This move is crucial as it not only provides immediate financial relief but also signals confidence in the company's future, which is vital for its operations and the services it provides to millions.