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Thread: Carillion collapses

  1. #1
    Squared
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    Carillion collapses

    Carillion, the second biggest construction firm in the UK, has gone bust. The full ramifications of this aren't clear as yet. We know that here, they're involved in some major projects, including the new Crossrail and HS2 railway lines, they're involved with the Ministry of Defence, and are supposed to be building 2-3 new hospitals. But the effects will be felt around the world. They have projects going on in Canada that I know about, and also plenty of work in the middle east including some stuff that I know will have a knock-on effect on the 2022 FIFA World Cup in Qatar. And then there's the fact that 43,000 jobs are at risk, only 20,000 of which are in the UK, and the simple knock-on effect of a firm of that size going bust and the dominoes that fall as a result.

    It's already a big story here in the UK, with so many jobs and important infrastructure projects on the line. But I think it'll wind up making waves at an international level when all is said and done.



    @lopprimetime

  2. #2
    No Time To Bleed The Dude's Avatar
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    Doesn't sound good. Is this the beginning of Brexit? If so, it's not looking pretty.

  3. #3
    Squared
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    Yes and no is the answer to that. It's sort of connected to Brexit, in that the value of the pound and economic volatitility has hurt them and pushed what had been manageable into the kind of position where it folds.

    It's an ongoing story though. People are picking over the bones but shares in other builders are falling as the knock-on effects are felt, plus there's a lot of fear in weird places, like what happens if all the company vehicles hit the used market at close to the same time?

    I mean when a company of this size goes down you feel the ructions in places that you might never expect.



    @lopprimetime

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