Carillion going bust

[stonerblue]

Can’t see a thread on this. But absolutely devestating news for so many people.

I think people are under estaimting how bad this could be. It was well known that they didn’t pay subbies for 120 days after month end - so effectively 150 days In arrears. With a turnover of 5.2 billion I make that about 2 billion they owe to thousands of small and medium sized businesses. I believe that is on top of the money they owe on pensions and to banks etc.

I know loads of lads who are working for heyrods on the site near the co-op building in town on one of their sites.

The economic ramifications of this could be huge. Thousands unable to pay their mortgages this month.

Hope the government offer people support. I also happen to think other big contractors could go the same way. Multi billion Turnover masking long term losses.

But, but.........

 

[Scottyboi]

My sister is caught up in this, she knew it was coming. They have tried to have her over saying they are moving her job to London and if she doesn't relocate she will make herself redundant. Bad idea when she is the only person in the company that knows what she does on a day to day the clowns.

 

[Prestwich_Blue]

Ex-colleague of mine who’s also a big Blue has just moved jobs from Carillion. Good timing.

 

[SWP's back]

Ex-colleague of mine who’s also a big Blue has just moved jobs from Carillion. Good timing.

His pension is still given a good old twatting.

But he’ll be thanking his lucky stars, you’re right.

 

[Prestwich_Blue]

His pension is still given a good old twatting.

But he’ll be thanking his lucky stars, you’re right.

Don’t think he was there that long but it made me think that he left our old company & they went bust. He left Carillion & they went bust. I just hope he doesn’t give up his season ticket.

 

[bluethrunthru]

Surely there is criminal negligence here, how the fuck did their accounts get signed off ?

a question asked about the banks post 2008 crash yet the same big name accounting and auditing group are still there still auditing failing companies and giving them a clean bill of health

 

[BertTrautmann'sParachute]

Seems the parasites are coming home to roost.

 

[Blue Maverick]

If you are already in receipt of your pension you lose nothing.
You continue to receive 100%.

http://www.telegraph.co.uk/pensions-retirement/news/carillion-collapse-will-pensions-still-paid/

That’s good news then for some the others poor bastards, honestly why would anyone bother in putting money into a company pension these days, buy property or land, at least you have control.

 

[worsleyweb]

But, but.........

?

 

[Happy Feet]

It’s criminal mismanagement that people should go to jail for.

This 100%,