Home NEWS Science Government ministers called to meeting on Carillion’s future in scramble to prepare for collapse

Government ministers called to meeting on Carillion’s future in scramble to prepare for collapse

3 min read
0
12

Sponsored links

Senior Cabinet ministers were called to a meeting on Thursday to discuss Carillion’s future, in yet another sign the Government is preparing for the outsourcer’s collapse after having revealed earlier this week it has drawn up contingency plans. 

It is thought that top figures from various departments attended the meeting, including Business Secretary Greg Clark, Transport Minister Jo Johnson and Justice Minister Rory Stewart.

Ministers reportedly discussed the contingency plans in place should Carillion collapse, news of which first emerged on Wednesday during Cabinet Office orals.

Carillion is a key government contractor, working across departments on high profile projects such as the HS2 rail link, and employs around 20,000 people in the UK.

However, concerns have recently spiralled over its future, with reports it needs short-term funding of £300m by the end of this month or will collapse into administration.

Carillion’s troubles began last summer, when it issued a shock profit warning and its chief executive left the business, causing its share price to plunge by almost 90pc since.



Sponsored links
Source link

Load More Related Articles
Load More In Science
Comments are closed.

Check Also

Most States Don’t Require Specific Financial Literacy Classes

Utah was the only state to get an A-plus. The state requires students to take a state-admi…