Carillion crumbles under debt pile: who’s to blame?

Construction giant received £2bn in government contracts despite three profit warnings

170713_Carillion
Carillion employs around 20,000 people in the UK alone

The construction company Carillion has collapsed under a £1.5bn debt pile after failing to reach a rescue deal with the Government.

Carillion filed for compulsory liquidation today, raising questions about the fate of the firm’s 43,000 employees - 20,000 of them UK-based - and stoking criticism of the Government’s decision to award contracts to Carillion despite repeated profit warnings.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
Explore More