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Carillion Liquidation - Wide Ranging Impact - 19th January 2018 - Click for larger version Carillion Liquidation - Wide Ranging Impact - 19th January 2018

As you will have noted from the significant coverage in the national press on the 15th January 2018, the court appointed the official receiver as liquidators of six companies connected to the second largest construction brand in the UK, Carillion.

The liquidation of such a sizeable company has far reaching consequences, not only for the employees and customers of Carillion, but also suppliers and sub-contractors.

At such a very early stage the outcome for creditors of the business and some sub-contractors is uncertain.

When any company enters into liquidation the consequences for staff and creditors are significant. The unfortunate reality is that if sums of money are due to the creditors it is often unlikely that payment shall be received and if it is, it will be after a significant period of time and is unlikely to be paid in full.

For sub-contractors awaiting payment from a main contractor who have entered liquidation this can often lead to financial difficulties for their own business.

We would recommend that in the event that you are affected, it is wise to consider the impact that the loss of such a large supplier of work will have on your own business and its employees.

It is the directors’ duty to consider the financial impact of such things and potentially take decisions on the business going forward.

Macdonald Henderson’s corporate and corporate recovery teams are experienced in advising businesses facing financial uncertainty and providing advice and guidance with regards to strategy and planning for such events.

We thought it would be useful to attach a link to the dedicated web page set up by the official receiver’s agents, which may assist if you are a creditor or sub-contractor, or indeed an employee, of Carillion.

If you are affected by the liquidation of Carillion and wish to discuss any of the matters arising out of same, we would be delighted to speak to and advise you in respect of any matters about which you have a concern.

Please contact a member of our team who would be delighted to advise you.

Alan McKee
Michael Hankinson
David Beveridge
Fraser Morrison

Last updated: 11.32am, Friday 19th January 2018

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