Rok last month found “serious failings” in its plumbing, heating and electrical business, resulting in the suspension of its finance director and wiping half the value from its shares.
According to a report in the FT, the group’s banks are drafting in PricewaterhouseCoopers to verify Rok’s accounts ahead of the talks.
A company spokesman said it was not at risk of breaching its covenants, and said the move to renegotiate its debt was an indication it was confident of meeting market expectations of profits for the year to 31 December.
“We have commenced discussions with our banks with a view to renewing our banking facilities,” the company said.
“The timing of that refinancing is in line with the requirement to put new facilities in place in the early part of 2011.”