United Kingdom - Carillion liquidation has dramatic consequences - January 31, 2018

Construction firm Carillion’s, which managed hundreds of public sector projects and vital public services, collapsed into liquidation after last-ditch rescue talks failed. The collapse has caused fears for the many companies and workers that relied on it for business. The company went into compulsory liquidation with debts of £1.3bn, a pension deficit of nearly £1bn and a host of unfinished public contracts. Payments to those receiving pensions from the firm are expected to continue, albeit at a reduced rate. The Unite trade union called for an urgent inquiry into Carillion’s collapse and expressed concern about the impact on the wider supply chain, warning that many small firms were now at serious risk of collapse. Trade union GMB stated that workers are paying the price for the failures of corporate bosses and government ministers.

Read on: in English …   See the dossier (the Guardian): in English …

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