Carillion in Liquidation

[G136GREYHOUND]

I for one am very sad to see this . I drove OTM for Carillion for a number of years and in my experience they were an excellent t company to work for. It was , and to some extent remains, a sad day for me when TUPEd elsewhere .

 

[DarloRich]

The BBC indicate Carliion have "entered liquidation" ( is that correct - should it be administration?). The government will fund public contracts: http://www.bbc.co.uk/news/business-42687032

 

[westv]

I can't see how delay repay is affected.

 

[neilm]

The BBC indicate Carliion have "entered liquidation" ( is that correct - should it be administration?). The government will fund public contracts: http://www.bbc.co.uk/news/business-42687032

Nope, administration means they look to repay the debt/might continue operating.

Liquidation means it's the end, it must of been really bad....

 

[DarloRich]

Nope, administration means they look to repay the debt/might continue operating.

Liquidation means it's the end, it must of been really bad....

I know what the two words mean thank you very much. I have some experience of both. I simply wondered if BBC did and whether there was any chance of rescuing some of the company as a going concern.

 

[Buspilot]

Lightning does strike twice:

BHS....Philip Green was chairman
Carillion....Philip Green, chairman.

Coincidence of names or what!

 

[cuccir]

I know what the two words mean thank you very much. I have some experience of both. I simply wondered if BBC did and whether there was any chance of rescuing some of the company as a going concern.

It is being reported as liquidation elsewhere so I presume it is the real deal!

 

[neilm]

I know what the two words mean thank you very much. I have some experience of both. I simply wondered if BBC did and whether there was any chance of rescuing some of the company as a going concern.

No multiple locations are quoting liquidation.

 

[cambsy]

It’s sad for the many of thousands of people loosing their jobs because of Carillion liquidation, I’m sure the contracts left by Carillion will be taken on by others, just hope it doesn’t delay current Network Rail infrastructure projects.

 

[hwl]

No multiple locations are quoting liquidation.

Liquidation could also be quicker in terms of sorting out some of the mess. Given the number of daughter companies for individual contracts as well as JVs, Carillion is fairly easily divisible.

 

[kingqueen]

It doesn't really matter *that* much.

All they do is assemble and orchestrate a group of sub-contractors.

Whilst that's true, it's the staff and immediate services that worry me. Where I see or interface with them, they're cleaning rail stations and trains, they provide customer relations contacts for Arriva Rail North and (crucially, to me) do PRM assistance booking for ARN. Admittedly, the assistance booking centre is utterly appalling, but without it I'd be even more stuffed.

There's also the £500m pensions budget shortfall - some of which will be for rail coal face staff.

 

[pemma]

Sky News have just tweeted that 'the board of Carillion says the company is taking steps to enter into compulsory liquidation with immediate effect'
https://twitter.com/skynewsbreak/status/952796220971474947

Which means the company will cease to operate and all employees will lose their jobs. If it had been administration the possibly of a smaller restructured company under new management could have been an option.

 

[hwl]

Which means the company will cease to operate and all employees will lose their jobs. If it had been administration the possibly of a smaller restructured company under new management could have been an option.

Carillion will be fairly easy to split up and sell parts on or for the JV partners to restructure the JVs, the problems are mainly isolated with 5 projects (inc. 3 NHS Hospital builds) and the top corporate entity's debt. Construction firms in general are well known for being subdivided.

 

[Mag_seven]

I know what the two words mean thank you very much. I have some experience of both. I simply wondered if BBC did and whether there was any chance of rescuing some of the company as a going concern.

The BBC did explain the difference on the Breakfast programme.

 

[DarloRich]

The BBC did explain the difference on the Breakfast programme.

They didn't on the website - that may have changed now.

 

[pemma]

Whilst that's true, it's the staff and immediate services that worry me. Where I see or interface with them, they're cleaning rail stations and trains, they provide customer relations contacts for Arriva Rail North and (crucially, to me) do PRM assistance booking for ARN. Admittedly, the assistance booking centre is utterly appalling, but without it I'd be even more stuffed.

Hopefully the Carillion staff who were working on the Northern contract full time are given TUPE and become Northern employees, which would minimise disruption and keep everyone working on that contract in continuous employment. If Arriva decide to award a new contract to a different 3rd party it'll take longer to sort out and there'll be no guarantee of everyone transferring across.

 

[DarloRich]

Hopefully the Carillion staff who were working on the Northern contract full time are given TUPE and become Northern employees, which would minimise disruption and keep everyone working on that contract in continuous employment. If Arriva decide to award a new contract to a different 3rd party it'll take longer to sort out and there'll be no guarantee of everyone transferring across.

I would suggest the most likely is a TUPE into the "parent" organisation for a time before the contract is re let and the staff transferred out.

 

[The Planner]

Some contributors are going to have to explain to me why HS2 will be canned because of this. Carillion are partners in two of the seven construction contracts, with each contract having three or four players in it so Im clearly missing something obvious apart from the rant opportunity.

 

[DarloRich]

Some contributors are going to have to explain to me why HS2 will be canned because of this. Carillion are partners in two of the seven construction contracts, with each contract having three or four players in it so Im clearly missing something obvious apart from the rant opportunity.

because it is HS2 ans any opportunity to whine on must be taken. Even the potential for 1000's of people to be out of work as of this very moment is of no concern compared to the evil of HS2

 

[kingqueen]

I can't see how delay repay is affected.

I spoke with the head of the Carillion call centre about this some months ago, also I spoke to senior bosses in Grand Central and Arriva Rail North, saying that the risk of imminent collapse of Carillion was substantial and is this going to affect them? They said that they were confident that the contact centre function is siloed and not likely to be affected.
Now the whole company is in liquidation, I wonder if that is still true. I don't know or understand the ins or outs of such situations but to me it doesn't look good.

 

[pemma]

because it is HS2 ans any opportunity to whine on must be taken. Even the potential for 1000's of people to be out of work as of this very moment is of no concern compared to the evil of HS2

Surely they must have been some people working on HS2 already doing things like planning and surveying, whether they have Carillion employment contracts or not.

 

[Gareth Marston]

In land of my fathers where Abeilio were using Carillion as their construction partner for their bid for the South Wales Metro -

" I asked the WG to explain whether and how Abellio can remain in the franchise contest, but they said they don’t comment on procurement processes"

One suspects theirs a lot of flapping about at Transport for Wales given Abeilio were in many peoples eyes "favorite" given their bid teams links with Welsh Labour.

 

[Xenophon PCDGS]

I wonder how many of the recently let contracts that Carillion were involved with were joint projects with other companies. Rail is just one part of the Carillion organisation. It seems that the Official Receiver will be handling matters now.

 

[pemma]

In land of my fathers where Abeilio were using Carillion as their construction partner for their bid for the South Wales Metro -

" I asked the WG to explain whether and how Abellio can remain in the franchise contest, but they said they don’t comment on procurement processes"

One suspects theirs a lot of flapping about at Transport for Wales given Abeilio were in many peoples eyes "favorite" given their bid teams links with Welsh Labour.

For the East Anglia franchise Abellio were shortlisted as part as a consortium with Stagecoach but Stagecoach pulling out didn't see Abellio withdrawing, in fact they won the bidding.

 

[2HAP]

Lightning does strike twice:

BHS....Philip Green was chairman
Carillion....Philip Green, chairman.

Coincidence of names or what!

Yes, a coincidence of names.

 

[Domh245]

For the East Anglia franchise Abellio were shortlisted as part as a consortium with Stagecoach but Stagecoach pulling out didn't see Abellio withdrawing, in fact they won the bidding.

Slightly different on W&B though. Abellio and Stagecoach were both partners for running the railway. On W&B, Abellio were going to run the railway, Carillion & AECOM were going to be responsible for the Valley Lines upgrades

 

[Xenophon PCDGS]

Can anyone give the financial percentage breakdown of the differing component sections that went towards the entity known as Carillion.

 

[Clip]

Can anyone give the financial percentage breakdown of the differing component sections that went towards the entity known as Carillion.

You could probably find all that online paul.

 

[Domh245]

Can anyone give the financial percentage breakdown of the differing component sections that went towards the entity known as Carillion.

Their Annual Accounts (up to 31 Dec 2016) will probably contain the numbers you are looking for, although you'll have to look through the PDF manually, it isn't computer searchable.

 

[pemma]

given their bid teams links with Welsh Labour.

Just noticed Baroness Sally Morgan (a Labour peer) became a director of Carillion last July around the same time Richard Howson (who was CEO) resigned from the board.