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Mouchel? s bank consortium? Barclays, Royal Bank of Scotland and Lloyd's? hired Deloitte accountants, raising concerns about the company? s financial situation

In a statement, the company Board stated that "as part of… refinancing Deloitte discussions was named by banks lending Mouchel with the consent of the company to carry out a review of the limited scope".

Mouchel added that it expects that "to be completed by the time of its interim results in March 2011 and its banks refinancing remain favourable".

The statement came after The Daily Telegraph revealed that the consortium of banks – Barclays, Royal Bank of Scotland and Lloyd Mouchel's - loans had hired accountants, Deloitte, raising concerns about the financial situation of the company.

Passage through the lenders come after a string of Mouchel and the collapse of Connaught and the Republic of Korea, companies that were also profit warnings depending on Government contracts and affected by reductions in public sector spending.

Mouchel has approximately 180 m ￡ bank debt and the facilities of the Bank, but is currently in talks with its banks in refinancing.

Deloitte will conduct a review "targeted" rather than "full" in advance of the Mouchel refinancing. The review will focus on how severe drop in the company - which he relied - public contracts will affect the future cash flows.

David Tilston, Director of finance at Mouchel, is supposed to be "very confident" that the company will complete its refinancing by its interim results in March 2011.

Mouchel crumpled sharing 11? to 66 percent.

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