Carillion going bust

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worsleyweb

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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.
 
Makes me angry. So many people may be out of a job. Government knew about it ages ago and kept awarding them contracts to try and keep them afloat, bonuses for execs, shareholder dividends, and then the banks ask the government to bail them out, no pension fund (how do they get away with it?). Going to cost the tax payer(us) a fortune. More cuts on the way.
 
It’s criminal mismanagement that people should go to jail for.
 
blueinsa said:
It’s criminal mismanagement that’s people should go to jail for.
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Ye like they did in 2008!! Tax payer will be picking up the bill again, those execs for that company are no better than drug dealers and should have all their stuff repossessed and go to jail, they are criminals ruining people’s lives for their greed, make an example of them, then maybe private sector will get its house in order.
 
Blue Maverick said:
Ye like they did in 2008!! Tax payer will be picking up the bill again, those execs for that company are no better than drug dealers and should have all their stuff repossessed and go to jail, they are criminals ruining people’s lives for their greed, make an example of them, then maybe private sector will get its house in order.
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Agree 100%
 
Not only the directly employed staff but think also of all the smaller contractors and their - non-directly employed - staff and the subbies the smaller contractors employed. All them are fucked - what they are owed won't get paid and there is no guarantee if the do any future work will be paid. They have 48hrs "support" from the government then they are on their own. Many of the SME's and subbies will go to the wall.

Also bear in mind the Govt - we - are only paying the 20k or so directly employed people - we need to in order to feed kids and run prisons but quite a few sites - new hospitals, schools and prisons - are now idle
 
I heard that the ones on pensions may have to take a 20% cut in their pensions fucking great whatvtge fuck do those old people do now, I’d be straight round the execs and nick his car
 
Interestingly enough the Mail, Telegraph, Sun and Times didn't feature the story on their front pages in last nights paper review - indeed the Times leads with the UK to get the Bayeux Tapestry on loan - FFS they are so scared to reveal the truth...............pathetic.............
 
bluethrunthru said:
Interestingly enough the Mail, Telegraph, Sun and Times didn't feature the story on their front pages in last nights paper review - indeed the Times leads with the UK to get the Bayeux Tapestry on loan - FFS they are so scared to reveal the truth...............pathetic.............
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I'm glad I'm not the only one that noticed it being downplayed by the media. And this fucking storm will be handy cover to bury the bad news.
 
mat said:
I'm glad I'm not the only one that noticed it being downplayed by the media. And this fucking storm will be handy cover to bury the bad news.
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" move along Tory voters .......... nothing to see here.........."
 
Paulpowersleftfoot said:
Wanted my company to pay a 5% rebate to get paid on 120 days
Appalling company,feel sorry for the many thousands it will affect
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Hard for them to agree when they had fuck all in the bank to pay you...............they had already creamed the most off to pay shareholder dividends and directors pay, bonus and pensions
 
mat said:
Indeed.

It's not like Carillon were one of their biggest doners, as I thank you they get some overpriced government contracts such as HS2....
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Fucking daft thing is one of their big competitors, Serco, who lost a tender for a £4bn contract to Carillion a couple of years ago warned they had under bid and would either have to come back for more dosh or fail to deliver - HMG ignored it. Tory Government AND Carillion auditors are in this shit up to their necks
 
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