Towergate admits to operational cash flow "uncertainties"
Bondholder report shows net cash outflow of £59m before financing.
Towergate has uncertainties around operational cash flow and liquidity for the first quarter of next year, its bondholder report has detailed.
The document for the nine months ended 30 September 2014, noted that trading performance, the impact of investment in change projects and costs due to regulatory investigations, led to a net cash outflow before financing of £59m for the period.
This was up on the £40m outflow in the same period of last year.
The document revealed that the group held £42m
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