The rumour on the ground is that they are pulling out of rail operations all together apart from design. And that they made a loss of circa £64 million on phase 2 alone.
Something has definatly happened as alot of staff from track and office are ringing around to try and get positions with other firms.
Well that's a real bummer.
We only hear about the Network Rail overruns, but of course there are contractors involved who are also likely to take a haircut.
It makes it very difficult to tender such contracts where there is a large risk.
Hopefully NR or the other major contractors will pick up the skilled electrification resource, and continue the project "by other means".
On the NW project, it would no doubt depend on what the contract terms are.
Phase 1 and 2 were specific contracts, but I'm not sure how the current work is being contracted, possibly under some form of frame agreement.
You'd expect BB to complete its contractual obligations, even if it did not enter into new ones.
Transferring the contract to another contractor by agreement with NR would be another way out.