Survey – Carillion sub-contractors facing huge losses
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A snap poll of Carillion engineering sub-contractors shows that many companies are facing huge financial losses from the collapse of the construction giant. That’s according to new data obtained by the Building Engineering Services Association (BESA) and the electrotechnical and engineering services trade body ECA.
Carillion owes around £75 million to around 80 engineering services firms, who provide vital services such as electrical, plumbing, gas, fire and security, and heating and ventilation. The overall losses are likely to be far higher, given there are thousands of businesses operating in the industry. The engineering services sector is the largest part of the construction industry by value.
Read more: Survey – Carillion sub-contractors facing huge losses
Get extra with galvanised steel guttering
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Rainclear, the UK’s leading stockist and online retailer of metal rainwater systems, are offering customers an EXTRA 7.5% off Galvanised Steel Guttering in 6 colours with next day delivery and FREE delivery on orders over £300 net.
The extra discount, available in the month of February only, is offered on top of the current 15% discount and will be applied at the checkout regardless of the size of the order.
Useful information for specialist contractors
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With Carillion having gone into liquidation on 15 January 2018 and thousands of lives to be impacted as a result, Streetwise Subbie are already working hard to help specialist subcontractors caught up in this mess.
They have published a 6 page advice paper setting out some useful information for subcontractors who have been involved either directly or indirectly with Carillion.
Former Loughborough school to be demolished by Mick George Ltd
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Local construction business, Mick George Ltd has been contracted to complete demolition works on behalf of Westleigh Partnerships Ltd, at the former Ashmount School, Beacon Road, Loughborough.
The premises which is located adjacent to the Epinal Way junction, is currently lying vacant since the former special education facility was relocated to Charnwood College Campus, Thorpe Hill, Loughborough back in 2014.
Read more: Former Loughborough school to be demolished by Mick George Ltd
Carillion collapse adds urgency to resolving retentions issues
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The liquidation of construction giant Carillion could lead to potentially catastrophic losses for thousands of SMEs, according to the Building Engineering Services Association (BESA) and the electrotechnical and engineering services trade body ECA.
According to its latest set of accounts, Carillion was holding over £800m in retentions payments owed to sub-contractors. There is growing alarm that much of this money will be lost leaving many more firms at risk of financial collapse.
Read more: Carillion collapse adds urgency to resolving retentions issues