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GMB union seeks talks with AA on debt pile
December 1, 2017 / 12:18 PM / 13 days ago

GMB union seeks talks with AA on debt pile

LONDON, Dec 1 (Reuters) - GMB, the union for staff at British motoring group AA, said it was seeking talks with the company’s new management over AA’s 2.7 billion pound ($3.65 billion) debt burden.

“GMB members working for the AA are seriously worried about the scale of debts and the cost of financing them and how this is impacting on their day to day lives,” GMB Regional Organiser Paul Grafton said on Friday.

The AA said this week it was selling its home emergency services policy book to Homeserve for an undisclosed sum.

GMB said in a statement AA’s debt pile could lead to further sales.

The company appointed Simon Breakwell as acting chief executive in September following the sudden dismissal in August of Bob Mackenzie for gross misconduct.

$1 = 0.7406 pounds Reporting by Carolyn Cohn; editing by Jason Neely

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