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Another Company about to fail who use a ridiculous business plan.

I wonder how many very wealthy Directors will walk away with not a care in the world whilst those who they owe money to, struggle to survive?

https://www.bbc.co.uk/news/education-46191830" onclick="window.open(this.href);return false;

75,000 jobs on the line

duke63 wrote:
I wonder how many very wealthy Directors will walk away with not a care in the world whilst those who they owe money to, struggle to survive?

Around 10??? Think there's usually around 10-12 people that sit on a board.

Seeking another Government bailout.

https://www.bbc.co.uk/news/uk-46494465" onclick="window.open(this.href);return false;

I'll be glad when the end of the world is finally over and we can move on. Brexit must be a cynical pessimists wet dream

Once in a life time opportunity for doom and gloom, fake news and fear tactics.

This isn't really about Brexit but everything to do with the appalling way these companies are allowed to quote and bid on Government contracts.

I have been told they bid at a loss with the intention of taking the money back from their suppliers and subcontractors and thus making a profit. Problem is they are now running out of suppliers who want to do business with them.

Tbh Duke I didn't even read it. It was a general comment. So much negative doom and gloom rammed down our necks at every opportunity I just ignore 99.9% of it these days. Unless you want to slit your wrists there is no point watching, reading or listening to the fake news these days.

Blade couldn't agree more. Far too much doom and gloom and they try to pick out the smallest of things to provoke big reactions. I can't stand British media they are intent on starting a war!

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Could go into administration today.

duke63 wrote:This isn't really about Brexit but everything to do with the appalling way these companies are allowed to quote and bid on Government contracts.

I have been told they bid at a loss with the intention of taking the money back from their suppliers and subcontractors and thus making a profit. Problem is they are now running out of suppliers who want to do business with them.

These outfits do, some bank on what they class as extra not tendered on in the first place, ( which no doubt others tendering actually accounted for in their packages) so would have been more of a cost effective bid in the first place, back handers still go on to award the contracts to the wrong companies, and then yes all the sub cons and people like me get hit with " well I know your cost was 100k, but I have only got 70k in the job for your stuff" FFS.....how many times...... so then you either buckle and get someway in the middle to work for everyone, or as I do, say I have given you the best from the start to secure the job, so I can sharpen possibly a couple of percent, but that's it.

I either win out and they rape someone else's product, or my competition put forward totally cheep crap which a) does not comply with regs, b) does not actually do the job specified. So the end client lose out and the job is second rate throughout.

The other area where there business model is aim would be to take on the school, uni, office or whatever the build or service is and provide maintence over the next 20 yrs, and this is where they try to get profit, as then the end client is Locked into high costs for service and low for the build.
It's all wrong and criminal, as you say, apart from the holding companies board of directors (mainly our so called politicians ) hiding up there, nobody makes a profit, and companies get crushed, or assset strippers rape and pillage, again killing people's lives and so the downward spiral continues
GREED......that's what it boils down to....

Gone into administration after American hedge fund voted down the rescue plan.

This will have a major ripple effect, as with Carillion many people wont get paid and companies will fold adding to the mess.