Carillion on the brink of administration

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Carillion on the brink of administration

Postby duke63 » 13 Jan 2018, 10:55

http://www.bbc.co.uk/news/business-42666275

Not good. Could cause massive disruption as they have a lot of council contracts.
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Re: Carillion on the brink of administration

Postby Kwacky » 13 Jan 2018, 12:52

And national government contracts.
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Re: Carillion on the brink of administration

Postby Monty » 13 Jan 2018, 12:59

.......... or the hundreds of M&E sub contractors that could go down with them.
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Re: Carillion on the brink of administration

Postby Frankie » 13 Jan 2018, 13:48

Tell me about it...we don't need another one of those episodes again. They recently, well last year nabbed the MOD work that I have done...They have loads of work? Maybe that's why, it's all been bought |(
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Re: Carillion on the brink of administration

Postby Kwacky » 13 Jan 2018, 14:41

It's all massively under priced though. The lack of margins is catching up with them. They've been struggling for years.
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Re: Carillion on the brink of administration

Postby Itchy » 13 Jan 2018, 22:44

Frankie wrote:Tell me about it...we don't need another one of those episodes again. They recently, well last year nabbed the MOD work that I have done...They have loads of work? Maybe that's why, it's all been bought |(


And done a shit job of it too.
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Re: Carillion on the brink of administration

Postby duke63 » 13 Jan 2018, 23:48

Quote low, get the contract and **** it up. Always the sign of a company in trouble.
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Re: Carillion on the brink of administration

Postby D6Nutz » 14 Jan 2018, 20:31

duke63 wrote:Quote low, get the contract and **** it up. Always the sign of a company that works with the public sector.


EFT!
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Re: Carillion on the brink of administration

Postby D6Nutz » 15 Jan 2018, 11:09

According to the BBC news site they are to go into liquidation.
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Re: Carillion on the brink of administration

Postby Monty » 15 Jan 2018, 12:17

600 million pension black hole, but at least they managed to guarantee the executive's bonus.
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Re: Carillion on the brink of administration

Postby Monty » 15 Jan 2018, 14:06

UK construction industry in crisis after government mistakenly bails out Marillion

The UK Construction Industry is in terminal decline after the government incorrectly bailed out unfashionable, neo-progressive rock act Marillion.

Owing to a simple typo, money intended for the troubled construction giant Carillion, is now lining the pockets of the former chart stars, whose records generally make Then Jericho’s output seem like the eggs that were shat from a golden goose.

Meanwhile, current construction projects held by Carillion may never be completed due to former singer Fish’s considerable lack of building site experience.

However, the band’s loyal fanbase insist Fish’s recent kitchen extension, the result of a collaboration with current singer Steve Hogarth and the drummer, is the best thing they’ve done since “Kayleigh”.

Fish and co are now under pressure to meet Carillion’s existing commitments, including a state-of-the-art hospital in Liverpool, rather than banging on about some eighties’ bint who wears inappropriate footwear during a cold spell.

Carillion CEO, Simon Williams, said, “The UK requires a million new homes every single year, not some lank-haired **** reminiscing about the cherry blossom in the market square.”

And Fish, himself, admitted that while he would probably spend the money on a new recording studio, the mistake had left the country’s construction fortunes in a perilous state.

“What happens to politically sensitive building projects like schools and jails?” he remarked. “What happens to loving on the floor in Belsize Park?”

He added, “To the people of Liverpool awaiting their shiny new hospital, I just wanna say I’m sorry.

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Re: Carillion on the brink of administration

Postby D41 » 15 Jan 2018, 14:27

Fcuking Marillion. 'Bout the worst band ever.....bunch of pseudo-hippy Gaynbow Warrior clowns.
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Re: Carillion on the brink of administration

Postby Monty » 16 Jan 2018, 19:11

Monty wrote:.......... or the hundreds of M&E sub contractors that could go down with them.


I was way off. They reckon it’s potentially 30,000 sub contractors at risk, with around 1.7 billion quid owed!
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Re: Carillion on the brink of administration

Postby duke63 » 16 Jan 2018, 20:59

Stealing from pension funds should be illegal. Nothing has been learned from the Maxwell fiasco.
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Re: Carillion on the brink of administration

Postby Jack » 17 Jan 2018, 00:28

duke63 wrote:Stealing from pension funds should be illegal. Nothing has been learned from the Maxwell fiasco.


yes it has , they've learned how to do it with larger amounts and no penalties , I thought that it was an offence to steal somebody's property .
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Re: Carillion on the brink of administration

Postby Frankie » 17 Jan 2018, 07:21

Monty wrote:
Monty wrote:.......... or the hundreds of M&E sub contractors that could go down with them.


I was way off. They reckon it’s potentially 30,000 sub contractors at risk, with around 1.7 billion quid owed!

The knock on effect in my industry alone is going to be painful. Yes other will pick up the work, but it will kill off a few I am sure of that. They say they will look to protect Govenment contracts, but the private stuff they can't quantify... this is the sector that will be hurting.
i was listening to some stuff on the radio, As a company they were asking sub cons to pay a fee if they wanted their money earlier than, in most case 3-4 months.... ha ha unreal.
We will never know who, but I bet at the very top of the tree hidden away on some board of directors in some holding company who will never been known, but have their paws in this lot, will be a whole bunch of politicians. Who will have mad early their money on the misery of all others.
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Re: Carillion on the brink of administration

Postby Kwacky » 17 Jan 2018, 09:43

It'll be interesting to see if the Department for Business, Enterprise and Regulatory Reform investigate this and whether any directors will be prosecuted. The whole company is rotten. There are loads of kick backs going on, including to the Tory Party.

What really sticks in the throat are the hard workers suffering while those at the top can retire in their 7 figure houses and massive pensions.
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Re: Carillion on the brink of administration

Postby duke63 » 17 Jan 2018, 10:16

Interserve may also be in trouble it appears.

Government needs to accept that their privatising of public services is not working.

https://www.ft.com/content/1aa17614-fab ... 9be7f3120a
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Re: Carillion on the brink of administration

Postby Kwacky » 17 Jan 2018, 10:31

Did you hear that G4S pulled out of doing the security for the Olympics the day before the start, but they still got paid?

The army took over.

So the taxpayer paid twice.

Guess which current Prime Minister's husband is a director for G4S?
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Re: Carillion on the brink of administration

Postby duke63 » 17 Jan 2018, 10:51

I did a bit of research on offshore companies in British Overseas territories this week.

Did you know that in many of these tax havens, the companies do not even after to prepare annual accounts and so disclose nothing to anybody and nothing is available to public scrutiny?

We are being conned big time by those currently in charge.
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