Compass Group could be contemplating raising £1.5bn though a sale-and-leaseback deal on the freehold sites of its 40 Moto motorway service stations, according to analysts.
The share price has slumped 34.7% following two profit warnings over the last 12 months.
And the board is now racing against time to head off a shareholders' revolt when interim results are revealed on May 18.
Plans are being drawn up to sell businesses and return funds to investors and each of Compass's seven business units is being examined for its return on capital.
The Sunday Times 01/05/05 page (Business) 3.1