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Insolvency

Carillion Liquidation Crisis

Construction company involved in government projects including has collapsed.

According to recent news, the construction firm Carillion, which is involved in major government projects such as HS2 as well as vital public services including school dinners, has gone into compulsory liquidation, putting tens of thousands of jobs at risk.

Latest talks by the company’s bank lenders at the weekend collapsed, even though emergency talks were hosted by the Cabinet Office.

The firm is involved in many public infrastructure projects – from transport and health to education and defence – and provides other vital public services such as cleaning and catering in NHS hospitals, the provision of school dinners in nearly 900 schools and prison maintenance.

Carillion said the government would provide funding necessary to maintain the public services carried out by Carillion staff, subcontractors and suppliers. The government urged workers to go to work as usual and promised them they would be paid via the official receiver.

If you feel you may be affected by Carillion or concerned that any of your clients are in trouble, we may be able to assist.

We are a group of chartered accountants/insolvency practitioners and provide discreet advice/assistance to firms in difficulty including funding options, business analysis and best practice solutions.

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