As you will be aware, a winding-up order was made against Carillion Plc on Monday 15th January, and the court appointed the Official Receiver as the liquidator. The collapse of Carillion raises challenges across a number of areas, from system-wide impacts on the availability of finance; the status of contracts where Carillion was a partner in joint ventures; the future of its employees and those of its sub-contractors; and monies owed to companies in the supply chain.
Commenting on the collapse, Jonathan Cage, Managing Director of Create Consulting Engineers, President of Norfolk Chamber of Commerce and Chair of the Chamber’s Planning and Development Group said:
“With Carillion being the UK’s second largest construction company, the news will send shockwaves throughout the construction sector. It is essential that government acts to ensure that the collapse of this construction giant does not significantly impact the supply chain and that support is given to many of the SMEs that make up this complex structure.
“Infrastructure investment is essential for the future success of the country especially during Brexit and situations like this will materially set back the delivery of this investment if immediate financial support is not provided. It is not right that many companies will no doubt face major financial right offs due to miss management of this major firm, at a time when UK Plc needs its construction industry to be confident and efficient.”
PwC have been appointed as Special Advisors to the Official Receiver and they have published a webpage with further official information for employees, customers, suppliers and other parties.
