Another Carillion in the making?

[Leesparkykent]

Shares in government contractor collapse - https://www.bbc.co.uk/news/business-46505688?fbclid=IwAR1qTbqiXgs2VpamrfifuxX2y6dmwI1twx6WXKl68Ja9vr8FROQZXKw6Y8Y

 

[SparkyChick]

Interserve by any chance?

Read about them the other day, could very well be another Carillion.

 

[Gavin John Hyde]

Interserve by any chance?

Read about them the other day, could very well be another Carillion.

You got it.
I have heard from well placed people that they are struggling with there probation contracts and will likely hand them back or have them taken away.
These multi arm firms bid for the contracts and often work out the delivery and how afterwards. It will be your average worker and sub contractor who gets screwed over, can guarantee the directors have feathered their nests

 

[buzzlightyear]

i got a kid bro , started on the railways maintainin it ,told me that carrilion left a f###ing mess.

 

[PEG]

Another slowly unravelling mess....they will have to strenuously convince a lot of institutions,that this emperor has magnificent robes on......45,000 employees...

Share re-issue is 1923 Papiermark territory

 

[tlangdon12]

What strikes me is that the culprits are not just the inept management that take on work that they have too little expertise in, but the government departments who are all too happy to give them this work! When will the government realise that the civil servants (or prison service or whoever) that are currently doing the job are the experts, and 'outsourcing' the work to the private sector just results in any actual extra investment in a service just being taken out as profit?

 

[Toneyz]

I think in this case the pension pot is up to date. I don't think the publicity helps though. It seems again greed has taken over instead of doing a few things well they are doing a lot but badly managed or are overwhelmed on the requirements required. what you have to remember that a lot of these services was undertaken by the civil service that was not there to make a profit eg prisons whereas private companies are there to make money for there shareholders. I see this happen when an electrical contractor decides to go into mechanical (M&E Package) and it seems to end up in the company going bust.

 

[baldelectrician]

It's a shame for the smaller contractors who got stuffed by Carillion

On a lighter note- the Aberdeen bypass was a joint venture by Carillion and 2 other companies.
The Scottish Government insist on a joint venture for such things and have it written in to the contract that if one goes bust the others have to pick the slack up and finish the contract on time and on budget.

As things stand the late fees are around £90,000 per day and they are desperate to finish it.

The Scottish Government are not out of pocket and not sitting with projects half finished- compare that to the shambles down south.

 

[FatAlan]

What strikes me is that the culprits are not just the inept management that take on work that they have too little expertise in, but the government departments who are all too happy to give them this work! When will the government realise that the civil servants (or prison service or whoever) that are currently doing the job are the experts, and 'outsourcing' the work to the private sector just results in any actual extra investment in a service just being taken out as profit?

Don’t you realise it’s all jobs for the boys, directors links to MP’s, lobbying and political party donations. They don’t give two scoobies about the workers.