LifeInPlastic
15 Jan 2018
The full extent of loss making is probably even worse than the huge provisions could cover for liquidation to be the only solution.Lenders and instututional investors would surely have backed a deal if there was an ongoing profitable business.
whitestallion
15 Jan 2018
golden handshakes lets hope there is nothing the greedy management can get their sticky fingers on
carol conneely
15 Jan 2018
Re: No Bail Out Not now. Because now, as I’ve said all along, they are finished. So not so much cognitive bias, merely facts.
axel27
15 Jan 2018
Re: Nationalisation Subs could own work they're not paid for.They're already recovering their materials and goods before the receiver locks them out or pays them. I would imagine Carillion found it increasingly hard to get anyone to risk a subcontract.FCA question is when time should have been called. A doing sandwiches for the kids
whitestallion
15 Jan 2018
Re: No Bail Out finally, no bail out, the tax payers money should be going into the nhs, not bailing out a poorly managed and bombed out co. well done to the gov.
Norman Barrington
15 Jan 2018
Re: No Bail Out CC: Those who bought at the bottom are sitting on a profit. Cognitive bias, much??Oh no they are not, Cognitive bias Carol?
Blanketstacker
15 Jan 2018
Re: Nationalisation Labour, the enemies of capitalism, step in and bail out the banks.Tories, friends of small business, step back and let dozens of small sub-contractors and suppliers go fins up.Exit stage left, pursued by Alice and a white rabbit.
LifeInPlastic
15 Jan 2018
9-6-17 £54m divi 15-1-18 DEAD They were doomed long before they paid out that divi. Like most, if not all, serious frauds no one will be held accountable.
carol conneely
15 Jan 2018
Nationalisation Basically, Carillion has been nationalised. HMG will pay the Administrators running costs until everything is sold off or sold on, especially Public Service contracts.This has been planned for a very long time! Shareholders will get 0% in the pound from Administrators. Nice work from HMG. Pity the poor subbies and supply chain counting the cost.
acsatix
15 Jan 2018
CFO,COO,CEO Of reputable construction company now looking for opportunities.... Impressive track record in their CV. Their strength is is the strong relationships they could build with government and lenders. Attention to detail and prudent management of company finances is their focus.
S17
15 Jan 2018
Re: Compulsory liquidation of Carillion A sad day for those relying on Carillion for employment, fulfilment of contracts and their sub-contractors - and shareholders!Their website still sounds up beat as I write. Just one of the jobs to be tackled as the lights are turned off. Opportunities abound for others picking up the pieces - at higher profit margins.
WhoSparticus
15 Jan 2018
Re: No Bail Out Not any more. All shareholders have now lost the lot
Meneage
15 Jan 2018
Re: Compulsory liquidation of Carillion Will directors receive their compulsory bonuses?
idontwanttolose
15 Jan 2018
Compulsory liquidation of Carillion 15 January 2018Carillion plc ("Carillion"
Compulsory liquidation of CarillionFurther to the announcement made on 12 January 2018, Carillion continued to engage with its key financial and other stakeholders, including Her Majesty's Government ('HMG'), over the course of the weekend regarding options to reduce debt and strengthen the group's balance sheet. As part of this engagement, Carillion also asked those stakeholders for limited short term financial support, to enable it to continue to trade whilst longer term engagement continued.Despite considerable efforts, those discussions have not been successful, and the board of Carillion has therefore concluded that it had no choice but to take steps to enter into compulsory liquidation with immediate effect. An application was made to the High Court for a compulsory liquidation of Carillion before opening of business today and an order has been granted to appoint the Official Receiver as the liquidator of Carillion. We anticipate that the Official Receiver will make an application to the High Court for PricewaterhouseCoopers LLP to be appointed as Special Managers, to act on behalf of the Official Receiver, and we further anticipate that an order will be granted to that effect.Philip Green, Chairman of Carillion, said:"This is a very sad day for Carillion, for our colleagues, suppliers and customers that we have been proud to serve over many years. Over recent months huge efforts have been made to restructure Carillion to deliver its sustainable future and the Board is very grateful for the huge efforts made by Keith Cochrane, our executive team and many others who have worked tirelessly over this period. In recent days however we have been unable to secure the funding to support our business plan and it is therefore with the deepest regret that we have arrived at this decision. We understand that HM Government will be providing the necessary funding required by the Official Receiver to maintain the public services carried on by Carillion staff, subcontractors and suppliers."This and other Carillion news releases can be found at www.Carillionplc.com
pyueck
15 Jan 2018
ThatÂ’s it move on Terrible day for staff and yes shareholders who were sold a puppy with this one. Many questions need to be asked about how we got here, I really hope the former management and auditors are held to account for those awful awful accounts.But hey ho, for all I will complain I know I won’t get a penny back. I took my choice to invest and I need to take the consequences, I lost a lot of money. I need to look back on what I did and the decisions I made. Obviously in retrospect it’s easy to say what was I doing the writing was on the wall. Was I a bit arrogant, yes, did I let greed get me in too deep, definitely.
