Liquidity Club
  • About Us
    • About Us
    • Our Team
  • Testimonials
  • Business Finance
    • How can we help?
    • Make an Enquiry
  • Contact
  • Careers
  • Latest News
  • About Us
    • About Us
    • Our Team
  • Testimonials
  • Business Finance
    • How can we help?
    • Make an Enquiry
  • Contact
  • Careers
  • Latest News
Search by typing & pressing enter

YOUR CART

17/1/2018 Comments

25000-30000 Carillion creditors to receive 1% of owed cash

Some 25 to 30-thousand creditors of Carillion, a large number of which will be small businesses across the country, have today been warned to expect in the region of 1p for every £1 owed, 1% of outstanding debt. This follows the news that the construction giant had less than £30m in cash compared with over £1.5bn in debts at the time of its collapse on Monday.

Many of the SMEs currently owed money by Carillion will find the coming weeks and months a major challenge. Suzannah Nichol, chief executive of UK Build, warned: "Previous construction collapses show that 17-18% of creditors do not survive the next five years.”  The Times reports multiple sites in Manchester and the North that have already closed, and one business owed £800,000 that is very unlikely to survive.

https://www.thetimes.co.uk/article/carillion-tens-of-thousands-face-losing-jobs-as-sites-close-6n7qwqcxn
http://www.telegraph.co.uk/business/2018/01/16/business-secretary-moves-fast-track-investigation-carillion/
Comments

    Archives

    January 2020
    November 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017

    Categories

    All

    RSS Feed

Birmingham   |   Leeds   |   Liverpool   |   London   |   Manchester   |   Nottingham   |   Sheffield

Liquidity Club, 9th Floor, Cornerblock, 2 Cornwall Street, Birmingham, ​B3 2DX.

Our privacy policy can be found here.

Part of the Finance 4 Business Group​


© COPYRIGHT 2017. ALL RIGHTS RESERVED.