Thames Water is "extremely stressed" and will take "at least a decade to turn around", its boss has said, as the struggling company posted huge annual losses. Thames reported a loss of £1.65bn for the year to March, while its debt pile climbed to £16.8bn.

The company argues it will need external help to secure a successful future after reporting a massive annual loss and rising debts.

Results revealed losses at Britain's biggest water company rocketed last year - as bosses were given another grilling by MPs

A major water pipe that has burst has caused "significant flooding" in south-east London. Southwark Council said it was working with Thames Water and the Metropolitan Police at the scene on Ilderton Road, Bermondsey. A council spokesperson said they had set up a rest centre and were helping people who had to leave their homes due to flooding.

Thames Water slumped to a £1.65billion pre-tax loss last year as its enormous debt pile continued to grow and its environmental record deteriorated.

Britain’s largest water operator, which counts two Canadian pension funds as shareholders, may be nationalized if it can’t find investors to plug its massive debt hole

Thames Water have been called out in Swindon to fix a major leak along a main road, causing delays for drivers.

Affinity Water has said it is “closely” monitoring its water resources after other providers including Thames Water and Southern Water brought in hosepipe bans.