Here's a theory:6 month results prepared and showed banking...

Here's a theory:
6 month results prepared and showed banking covenants breached
Banks called for further equity injection or else loans called
CMA went to loyal supporters looking for equity and were turned down
CMA then called in macquarie bank to find some new equity, hoping for a TPI style miracle
Q is whether the equity can be found before the banks lose patience, and at what cost?

but its only a theory!