UK: The building services industry is in turmoil after the compulsory liquidation of construction giant Carillion with debts of around £900m.
The news comes after talks over the weekend with the the government, key financial and other stakeholders failed to come up with a solution to the company’s huge debts.
In a statement, the company said: “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.”
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.”