The Trust administrator claims the £204m debt will rise to £447m if proposed changes are not implemented.
University Hospital Lewisham is the biggest casualty of the shake-up - set to lose both A&E and maternity. @londontonight
Draft recommendations have been published following the administration of South London Healthcare NHS Trust.
The administrator, Matthew Kershaw, has confirmed there will be job losses, as a result of the trust's spiralling debts.
Lewisham Hospital looks likely to lose its Accident and Emergency and Maternity wards.
A period of consultation is due to begin on the 2nd November, which will end on the 13th December. A report with final recommendations will be delivered in January 2013.
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What a year it's been full of ups and down, turmoil and change and it seems events here in London have got the entire nation talking.