PKF Restructuring

Restructuring and Insolvency services from PKF member firms

Restructuring News

Liquidation of Carillion – what action can contractors and suppliers take?

Liquidation of Carillion – what action can contractors and suppliers take?

19 Jan 2018

An insolvency in any construction project can be complicated but the liquidation of Carillion, the UK’s second biggest construction firm, will be particularly complex. This will have a significant impact on Carillion’s supply chain affecting many businesses in the construction industry and beyond.

Given the size of the business the liquidation process is likely to be protracted. Sub-contractors and suppliers will need to wait for a considerable period of time before they receive any money owed, or even know if anything will be paid. This is likely to cause financial difficulties for many and could potentially lead to knock-on insolvencies.

Minimising the implications on your cash flow

If you are a creditor of Carillion and non-payment will have a detrimental effect on your business and cash flow, it’s best to act now and get advice from a restructuring expert. Steps can be taken to help minimise the impact on your cash flow if you act early.

How we can help

Our team of Licensed Insolvency Practitioners pride ourselves on providing transparent practical advice in the most difficult situations. The focus is always on saving a business and for suppliers of Carillion, it may be possible to ease the cash flow burden, for example by helping you to agree ‘Time to Pay’ arrangements with HMRC and possibly renegotiating terms with your own suppliers, either informally, or through a formal rescue process like a Voluntary Arrangement.

In difficult circumstances, our objective is to relieve the pressure on you. We are on hand to assist, please contact me, Matt Henderson at: [email protected] or another member of the Restructuring team to find out more.

Get In Touch

For more information about PKF Restructuring services

* *