Carillion Puts Administrators On Standby Should Talks Fail

Regulators to hold pensions summit as Carillion crisis deepens

Carillion said on Friday it remained in "constructive discussions" with its creditors and suggestions that they had rejected its business plan were incorrect.

It has previously been reported that EY is on standby for an administration.

And it and has several major contracts for managing public facilities, including West of Scotland Housing Association.

Unions have called on the Government to intervene to safeguard almost 20,000 jobs that are now at risk.

Shadow business secretary Rebecca Long-Bailey said: "The collapse of Carillion could provoke a serious crisis".

Sky News revealed last weekend that Carillion needs hundreds of millions of pounds within weeks to survive. We urgently need to know just how exposed the Scottish Government and the public purse is if Carillion were to collapse.

The firm is part of the consortium building the Aberdeen Western Peripheral Road (AWPR).

"The thousands of workers with Carillion and those in the supply chain servicing its contracts across the public sector will be desperately anxious about the future and they too need to be reassured by the Scottish Government as a matter of urgency".

Employing 19,500 people in the United Kingdom alone, Wolverhampton-based Carillion is the second-largest supplier to Network Rail and maintains approximately half of the UK's prisons as well as roughly 50,000 homes for the Ministry of Defence.

The firm is a key government contractor for projects including the HS2 high speed rail scheme, schools and prisons.

Schumer defends Durbin after GOP senator questions account of Trump meeting
One of the senators in a contested White House meeting denies President Trump called a handful of nations "s-thole countries". Ben Marter, a spokesman for Durbin, shot back at Perdue's comments and said the issue comes down to credibility.

Carillion, which has had to contend with a slowdown in many of its major markets, has seen its share price plummet from 230p a year ago to less than 15p on Friday.

United Kingdom ministers decided against providing a direct financial bailout to Carillion and were likely to be "lukewarm" about the latest rescue effort, Sky reported citing unidentified government sources.

The government has said it was "monitoring the situation closely".

"You can see that one the one hand, it's in everybody's best interest that Carillion continues, but at the same time it's hard to chart a way forward".

Transport Scotland said that Carillion had "no intention of withdrawing" from the AWPR project, and that the consortium delivering the route "remains committed to completing it in accordance with the contract". The long-awaited route is due to be finished this year following lengthy delays.

Carillion's worsening health could put some of its 19,500 United Kingdom employees' jobs at risk.

The GMB union has called on the Government intervene and protect Carillion workers' jobs and pensions - rather than focussing on bailing out the private company.

Labour frontbencher Jon Trickett said: "It has been clear for months that Carillion has been in difficulty but the Government has continued to hand over contracts to the company even after profits warnings were issued".

Carillion declined to comment on Sky News' report.

Related News:

  • Chelsea Manning Confirms She's Running for US Senate

    Chelsea Manning Confirms She's Running for US Senate

    Manning received world-wide renown following her arrest in 2010 after an internal US Army investigation. She is running as a Democrat and will likely challenge two-term Senator Democrat Ben Cardin .
    Uber Reportedly Had System to Stymie Police Raids

    Uber Reportedly Had System to Stymie Police Raids

    Uber said in a statement that, like all companies, it has various security procedures in place to protect its data. The move often made it impossible for authorities investigating the company to retrieve information.
    Kevin Sumlin to be new Arizona football coach

    Kevin Sumlin to be new Arizona football coach

    His first season at Texas A&M was 2012, when the Aggies took the SEC by storm in their first season after moving from the Big 12. Former Dallas Cowboys VP of player personnel Gil Brandt tweeted this afternoon that Sumlin to Arizona is "official".
  • Give autopsy report: SC to Maharashtra government

    Give autopsy report: SC to Maharashtra government

    Asked about the video statement issued by his aunt and grandfather in the past, Anuj said, "Even they are clear about it now". The Supreme Court on Thursday (January 11) has chose to hear the case pertaining to the death of CBI judge Brijgopal Loya .
    Defence deals, Bollywood: India ready to greet PM Netanyahu

    Defence deals, Bollywood: India ready to greet PM Netanyahu

    Thus, despite the bloated rhetoric by Rightwing elements on both sides, ties between Israel and India will remain transactional. The India-Israel bilateral trade in 2016-17 stood at $5 billion, with exports from India accounting for $3 billion.
    The contestants take a look at their Journey on the show

    The contestants take a look at their Journey on the show

    She locked her up around a lot of controversies throughout Bigg Boss 11 still she has a huge fan following on the social media. Starting with Vikas Gupta , Bigg Boss showed him his journey and how he grew in the house and became a mastermind player.
  • How Analysts Feel About Spectris plc (LON:SXS)?

    The shares were bought at an average cost of GBX 204 ($2.77) per share, for a total transaction of £10,200 ($13,832.38). Obermeyer Wood Investment Counsel Lllp decreased Bank Amer Corp (BAC) stake by 8.9% reported in 2017Q3 SEC filing.
    Car goes airborne, slams into 2nd floor of office

    Car goes airborne, slams into 2nd floor of office

    According to police, the driver later admitted to using narcotics when the crash occurred, the Los Angeles Times reported . The vehicle caught fire after it went into the building, Daniel Sanchez, who witnessed the accident , told KNBC .
    Florida leaders applaud Governor Scott's fight to protect Florida's coastline

    Florida leaders applaud Governor Scott's fight to protect Florida's coastline

    Brown reportedly asked for Zinke to give OR the same treatment as Florida. Brown told Zinke that the same conditions exist in California.
  • Father of another abducted girl in Kasur alleges police of non-cooperation

    Father of another abducted girl in Kasur alleges police of non-cooperation

    The murder has caused outrage in Pakistan , and mass protests broke out in Kasur , located in Punjab province, on Wednesday. She also stressed on the need for creating awareness about assault among children and teaching them protective measures.
    'The Handmaid's Tale' Season Two Releases Three Eerie Photos

    'The Handmaid's Tale' Season Two Releases Three Eerie Photos

    In the first season, Hulu released the first three episodes at once, with the rest coming once a week after that. One can safely assume that this might be a punishment for protesting against the system in the last season.
    Three girls dead as boat with 34 students capsizes in Maharashtra

    Three girls dead as boat with 34 students capsizes in Maharashtra

    Rescue operations are still underway to trace the six missing children, who mostly hail from Palghar district in Maharashtra. According to news agency ANI , four students lost their lives, while 25 have been rescued.

Most liked

Finch ton helps Australia to big total
Marsh went on to make 50 off 68 deliveries, which included two boundaries and two sixes, before he was cleaned up by Rashid. Captain Steve Smith got off to a quick start (23 from 18 balls) before edging one off wrist spinner Adil Rashid (2/73).

Plane skids off a runway in Turkey
The prosecutor's office has launched an investigation. "It then swung to one side and back of the plane moved upwards". Reports say that there was widespread panic on board but that all passengers and crew members escaped without injury.

Reaction to judge's decision to block the end of DACA
It does not open the door to the possibility of obtaining USA citizenship, one of the key points for the opposition Democrats . Richard Durbin of IL - a leader of the bipartisan Senate group - was among the seven lawmakers at the noontime meeting.

Sanchez left out of Arsenal squad amid transfer rumours
Lewis Cook , Ryan Fraser and Dan Gosling all return, taking over from Harry Arter , Marc Pugh and ex-Arsenal man Benik Afobe . Arsenal broke the deadlock seven minutes after the restart.

Zuma fate undecided as ANC NEC meeting focuses on party celebrations
Since Ramaphosa narrowly defeated Nkosazana Dlamini-Zuma, the rand has rallied from around R13.60/dollar, to around R12.23. The ANC's top decision makers also meet this week, and Zuma's recall is expected to be on the agenda.

Brian Daboll Leaving Alabama, Joining Buffalo Bills Staff
Brian Daboll comes to the team after recently helping Alabama win a college football championship as their offensive coordinator. He came to UA from the New England Patriots, where he was tight ends coach. "I know how much this area means to him".

Padmaavat finally gets official release date
Paramount Pictures will distribute the film across select global markets, including non-traditional territories. The CBFC has cleared the film with a few changes including the title of the film from Padmavati to Padmaavat .

'SNL': Bill Murray, Fred Armisen Bring Fire & Fury As Bannon & Wolff
The sketch comedy show has made hay out of Donald Trump's many foibles since his election. But I'm different than Donald Trump because I'm actually a billionaire.

Thibaut Courtois unhappy with Chelsea's boo-boys
He knows all the players, he knows all the teams, he asks me different things about the French competition, or other things... He said: "Every game I try to make the best decision for the team and it was right to make this decision".

Wrong woman killed in murder-for-hire plot
Zengotita-Torres worked with the intended victim at Ross Dress for Less (pictured) in Kissimmee and was accidentally targeted. A murder-for-hire plot spun out of a love triangle went awry when the wrong woman was kidnapped and killed, authorities said.

Another chance for snow early this week for the Valley
There will be plenty of sunshine through Sunday afternoon, and winds will calm down throughout the afternoon and evening. The evening round will be part of a strong cold front that will bring in arctic air behind it to start next week.

Parks and Recreation actor, Aziz Ansari, accused of sexual assault
Ansari replied with an apology, saying: "I'm so sad to hear this". "Clearly, I misread things in the moment and I'm truly sorry". When Ansari told her he was going to grab a condom within minutes of their first kiss, Grace voiced her hesitation explicitly.

TPS ending for Salvadorans; families at risk
The country has received millions of dollars in aid for the recovery and rebuilt schools, homes and hospitals, the official said. The country, however, has one of the world's highest murder rates and gang violence is rampant.

GM reveals vehicle without steering wheel or pedals
GM executives said seven USA states already allow the alterations sought by the carmaker. Autonomous cars are the future and there's no doubting that.

There's a new sound at soccer matches in Saudi Arabia: women's cheers
Lamya Khaled Nasser, a 32-year-old football fan from Jeddah , told AFP she was proud and looking forward to the match. However, they were forced to sit in a "family section" that separated them from the male fans.