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Carillion was left with just £29m before going bankrupt

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Carillion held rescue talks with the government since October in a bid to stave off collapse, says boss.

http://www.bbc.co.uk/news/business-42710795

"Directors wanted the government to "guarantee" more funding for four months while Carillion continued its restructuring, and be allowed to defer tax payments." 

I bet they did cheeky c**ts.

Carillion/Tarmac. Nothing has changed. They have always made a living off the back of other companies being sent to the wall by them. 

The gov didn't step in last time and will be surprised if they do this time.

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Going to result in a lot if redundancies.

Hopefully all senior managers, directors will be held accountable in a court of law.

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3 minutes ago, Locke said:

Going to result in a lot if redundancies.

Hopefully all senior managers, directors will be held accountable in a court of law.

A few Blues lads, have been seriously fucked over by Carillion, not paying them for their services, lot's of other companies are in the same boat. Most of Carillion's good staff have already gone, leaving behind a load of shite, who would struggle to get a decent job elsewhere anyhow.

The work that they did, will still need to be done, thus the job opportunities still there for the staff.

And just how much money has this company spunked on HS2?

I really hope they go bump, never to rise again.

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They were sorting out the new accommodation in the Naval base up here, the work site is just derelict now, not a sole to be seen, was heaving before they went bust. How can a company make less money than the interest they owe on loans!!! Its a fucking joke. 

The government MUST NOT give them money. 

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8 minutes ago, boro_boy said:

They were sorting out the new accommodation in the Naval base up here, the work site is just derelict now, not a sole to be seen, was heaving before they went bust. How can a company make less money than the interest they owe on loans!!! Its a fucking joke. 

The government MUST NOT give them money. 

Big corporation fella, who no doubt if much digging was done, would probably reveal that several MP's have a vested interest in the feckin Corporation, which gets back to your thread earlier, buried by mainstream media.


Reply below added 1 minute later

3 minutes ago, Red Devil said:

Thankfully my company never agreed to the 120 day payment terms!!

 

What were these companies thinking!!!

90 day, is the general standard invoicing/payment time.

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I don't think this will be the last construction firm to collapse.

I think there will be several more soon.


Reply below added 8 minutes later

Galliford Try and Balfour Beatty will foot a bill of up to £80m to cover the cost of finishing the Aberdeen Western Peripheral Route, following Carrilion's liquidation.

The above snip came from a website that reports on UK construction firms entering administration. 

That is the tip of the ice berg. No knock in effect is huge and many companies will suffer.

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It would be good to know how many (and to whom) back pocket payments were made. More than a few is my cynical guess especially when warnings were posted last year but still contracts were awarded.

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1 hour ago, Locke said:

I don't think this will be the last construction firm to collapse.

I think there will be several more soon.


Reply below added 8 minutes later

Galliford Try and Balfour Beatty will foot a bill of up to £80m to cover the cost of finishing the Aberdeen Western Peripheral Route, following Carrilion's liquidation.

The above snip came from a website that reports on UK construction firms entering administration. 

That is the tip of the ice berg. No knock in effect is huge and many companies will suffer.

How can other companies be forced to foot the bill?

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Some companies just get too big and Carillion was one of those. Another is BABCOCK who I'm working for at the moment. They have their hands in everything.  I work for Babcock Faslane, they have Babcocks in Rosyth and they charge each other for work. It's very weird, must be to same tax or something, it will do something to balance their books no doubt. 

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3 hours ago, Harold said:

It would be good to know how many (and to whom) back pocket payments were made. More than a few is my cynical guess especially when warnings were posted last year but still contracts were awarded.

Ongoing bonus payments to the Board of Directors were stopped today according to the news.

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30 minutes ago, Locke said:

Ongoing bonus payments to the Board of Directors were stopped today according to the news.

They shouldn't get bonuses if the company is constantly losing money!!!

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Monsanto = worst corporation ever.

Equifax=scum, selling data protection stuff.

Johnson&Johnson. = cunts, many dangerous products they have produced.

United Airlines=Enough said.

Mondelez, etc etc, the list goes on and on.

Corporate profiteering, over all decency.

Sadly in USA, the corporations sit on the committees that make the legislation. What feckin chance does humanity have when that happen's. 

Still it puts a few extra quid in the politicians pockets.

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36 minutes ago, Locke said:

Many more smaller construction companies will go bump as a result of this.

Why you'd think they'd get all the extra work


Reply below added 0 minutes later

Well the ones that MPs have interests in.

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12 hours ago, Locke said:

Ongoing bonus payments to the Board of Directors were stopped today according to the news.

I wasn't meaning bonus payments. I was talking about the brown envelope ones.

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2 hours ago, boro_boy said:

Why you'd think they'd get all the extra work


Reply below added 0 minutes later

Well the ones that MPs have interests in.

They will be waiting for payment that ain't coming.

How can they take on extra work with no funds? Then people waiting on them will be affected.

And so forth. Domino effect.

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