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How are you being affected by the Carrilion liquidation crisis?

How are you being affected by the Carrilion liquidation crisis?

It was announced this morning that construction firm Carillion had begun steps to enter compulsory liquidation after ministers refused to use taxpayers' money to rescue it.

It also has several major contracts for managing public facilities, including West of Scotland Housing Association and major military sites such as Dreghorn Barracks, MoD Rosyth, and RM Condor in Arbroath.

"Passengers can be reassured that their services will be running as normal today as Carillion's work for Network Rail does not involve the day-to-day running of the railway".

Brian Berry, chief executive of the Federation of Master Builders, said: "Carillion's liquidation is bad news for all those who work for the company and it will have serious knock-on effects for the many smaller firms in its supply chain, some of which will be in serious financial danger as a result of Carillion's demise".

A government spokesman has said: "HS2 is not at risk" and "will still be delivered".

The DHSC said that in most cases the services are subcontracted so that the company that holds the contract with trusts remains responsible for providing the services.

Carillion had been the constructor for the new Midland Metropolitan Hospital in Smethwick, in the West Midlands, and the new Royal Liverpool University Hospital. This means the government will now be forced to provide funding to maintain Carillion's public services.

'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'.

Carillion has been struggling to reorganize for the past six months amid debts of about 900 million pounds ($1.24 billion) and a pension deficit of 590 million pounds.

"Obviously saving jobs is the priority but we also have to make sure that workers don't pay the price for what is boardroom greed and recklessness".

Although they are central to many key projects and services, like building new schools, they often don't associate themselves with the work because they subcontract to construction or managed services firms.

'We remained hopeful that a solution could be found while putting robust contingency plans in place to prepare for every eventuality.

"We understand that some members of the public will be concerned by recent news reports".

Bernard Jenkin, the Conservative chairman of the House of Commons Public Administration Committee, said Carillion's collapse "really shakes public confidence in the ability of the private sector to deliver public services and infrastructure". "Staff that are engaged on public sector contracts still have important work to do".

"We need urgent assurances that this collapse will not hit our prison service".

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