Newspaper article The Journal (Newcastle, England)

Inquiry Call into Carillion as Firm Nears Administration

Newspaper article The Journal (Newcastle, England)

Inquiry Call into Carillion as Firm Nears Administration

Article excerpt

THE Government is coming under increasing pressure to take urgent action to prevent the collapse of construction giant Carillion as thousands of workers wait for news of their fate.

Talks involving government ministers and company bosses were held throughout the weekend as unions warned that thousands of jobs, and workers' pensions, were in danger.

Unite called for an inquiry into the crisis, while Labour will quiz ministers in the Commons this week.

Carillion is a key supplier to the government and has contracts in the rail industry, education and NHS.

It has met lenders to discuss options to reduce debts, re-capitalise and/or restructure the group's balance sheet.

Administrators could be called in within days unless shareholders, creditors or the government agree to stump up funds, it is believed.

Carillion, which employs 20,000 workers in the UK, has struggled since reporting halfyear losses of PS1.15bn, and a meeting was held on Friday to discuss its pensions deficit. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.